World oil prices today
World oil prices fell sharply on December 7 (Vietnam time). At the end of the weekend trading session, WTI crude oil was at 67.17 USD/barrel, down sharply by 1.13 USD/barrel, equivalent to a decrease of 1.65%. WTI crude oil closed yesterday's trading session at 68.30 USD/barrel and opened today's session at 68.42 USD/barrel.
Brent crude oil was at $71.12 a barrel, down $0.97 a barrel, or 1.35 percent. Brent crude oil closed the previous session at $72.09 a barrel and opened today at $72.12 a barrel.
Thus, world oil prices continued to fall sharply today, the third consecutive session of decline after a slight decrease in the previous two trading sessions. According to Reuters, oil prices fell sharply when the forecast of oversupply in 2025 continued to be made, despite the decision of the Organization of the Petroleum Exporting Countries and its allies (OPEC +) to postpone the plan to increase supply to April 2025 and extend the production cut period until the end of 2026.
Oil prices are also being weighed down by signs of weak demand in China and rising geopolitical risks in the Middle East, Reuters reported. US rigs added five rigs to 482, the highest since mid-October, while gas rigs rose to 102, the highest since early November.
Domestic gasoline prices today
On December 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 December 5. Accordingly, the price of diesel oil decreased the most, by 395 VND/liter; kerosene decreased by 325 VND/liter; RON 95-III gasoline decreased by 294 VND/liter. Notably, the price of E5 RON 92 gasoline increased by 24 VND/liter, while fuel oil remained unchanged.
Gasoline discount today
Discount prices of petroleum products today, December 7, at some domestic petroleum dealers are as follows:
PVOIL discounts on December 7 as follows: Diesel discount (0.005S-V): 1,350 VND/liter; Diesel discount (0.001S-V): 1,250; RON 95 - III gasoline: 1,150 VND/liter; E5 gasoline: 1,050 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on December 7 are as follows: Diesel discount (0.005S-V): 1,300 VND/liter; Diesel discount (0.001S-V): 1,200; RON 95 - III gasoline: 1,100 VND/liter; E5 gasoline: 1,000 VND/liter.
MIPEC gasoline discount on December 6: RON 95 - III gasoline discount: 1,000 VND/liter; E5 gasoline: 900 VND/liter; oil: 1,300 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, it is forecasted that in the next price adjustment period, petroleum prices may continue to decrease.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 22 times and decreased 26 times. Oil prices have increased 21 times and decreased 27 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.
