World oil prices today
World oil prices increased sharply in the trading session on November 6 (Vietnam time). At 10:05, WTI crude oil was at 72.19 USD/barrel, up 0.50 USD/barrel, equivalent to an increase of 0.70%. WTI crude oil closed the previous trading session at 71.69 USD/barrel, opening today's session at 71.77 USD/barrel.
Brent crude oil was at $75.52 a barrel, up $0.60 a barrel, or 0.80 percent. Brent crude oil closed the previous session at $74.92 a barrel and opened today at $75.19 a barrel.
Thus, after consecutive sessions of price increases, oil prices turned down in yesterday's trading session (November 6) with Brent crude oil closing down 0.8% and WTI crude oil down 0.4%. However, world oil prices rebounded this morning with a fairly high increase.
According to analysts, when candidate Donald Trump won the US presidential election. The new US President's immigration, tariff and trade policies are expected to boost the country's economic growth.
In addition, analysts say that Trump's re-election means that sanctions on Iran and Venezuela will be extended, and oil barrels from these countries will not be released into the market, thereby partly supporting oil prices. At the same time, Trump's support for Israeli Prime Minister Benjamin Netanyahu could increase instability in the Middle East.
Domestic gasoline prices today
On November 7, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities currently applying) are as follows:
The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of October 31. Accordingly, gasoline and oil prices were adjusted in opposite directions, with gasoline prices decreasing and oil prices increasing. E5 RON 92 gasoline prices decreased by VND284/liter, RON 95-III gasoline decreased by VND391/liter, diesel increased by VND91/liter, kerosene increased by VND263/liter, and fuel oil increased by VND232/kg.
Gasoline discount today
Discount prices of petroleum products today, November 7, at some domestic petroleum dealers:
PVOIL discounts on November 7 as follows: Oil discount: 650 VND/liter; RON 95 - III gasoline: 650 VND/liter; E5 gasoline: 650 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 7 as follows: Oil discount: 600 VND/liter; RON 95 - III gasoline: 600 VND/liter; E5 gasoline: 600 VND/liter.
MIPEC gasoline discount on November 7: RON 95 - III discount: 400 VND/liter; E5 gasoline: 400 VND/liter; oil: 450 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices next period
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, when world oil prices are recovering and continuously increasing in the last sessions of the week, it is forecasted that in the next price adjustment period, petroleum prices may increase sharply.
Of which, gasoline price is forecast to increase by about 300-400 VND/liter; oil price increases by about 700-800 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 20 times and decreased 23 times. Oil prices have increased 19 times and decreased 24 times.
Today's gasoline prices are for reference only and may change according to market conditions without prior notice. Readers should consider carefully when using the information in this newsletter.
See more articles about gasoline prices HERE.
