World oil price today
World oil prices continued to trade at a low level today. At 12:09 (Vietnam time), WTI crude oil was at 66.36 USD/barrel, equal to yesterday's closing price. WTI crude oil closed the previous trading session at 66.36 USD/barrel, opening today's session at 66.26 USD/barrel.
Brent oil was at 69.52 USD/barrel, up 0.05 USD/barrel, equivalent to an increase of 0.07%. Brent oil closed the previous trading session at 69.46 USD/barrel and opened today's session at 69.439 USD/barrel.
Thus, world oil prices are trading around the closing price of yesterday's session. At the end of the session on March 6, Brent and WTI oil prices increased slightly by 0.2% and 0.1% USD/barrel, respectively, and there has been almost no recovery compared to the sharp declines.
Previously, in the trading session on March 5, Brent oil prices had a time when they fell to 68.33 USD/barrel, the lowest level since December 2021, due to oil inventories in the US increasing more strongly than expected. The market is also under pressure from the news that OPEC+ ( Organization of the Petroleum Exporting Countries and its allies) will increase the production quotas for the first time since 2022 in April, along with the decision to impose new US tariffs on imports from Canada, Mexico and China.
Analysts said that the news of OPEC+ adding output, a more positive outlook for a peace agreement between Russia and Ukraine along with changes in tariff policies is causing strong fluctuations in crude oil prices. According to Reuters, Russia has said it will seek a peace deal in Ukraine.
Domestic gasoline prices today
On March 7, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities are applying) are as follows:
The above domestic retail price of gasoline and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of March 6, 2025. Accordingly, gasoline prices have decreased sharply.
E5 RON 92 gasoline price decreased by 697 VND/liter, RON 95-III gasoline decreased by 710 VND/liter, kerosene decreased by 762 VND/liter, diesel decreased by 624 VND/liter, mazut decreased by 465 VND/kg.
Today's gasoline discounts
The discount levels of gasoline products today, March 7, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,500 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,450 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,350 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,300 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,400 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount 0.05S-II: 1,450 VND/liter; RON 95 - III gasoline: 1,350; E5 gasoline: 1,300 VND/liter.
MIPEC Petroleum: RON 95 - III Petroleum Discount: 1,300 VND/liter; E5 Petroleum: 1,200 VND/liter; Diesel 0.05S-II: 1,550 VND/liter. Applicable to the Northern region.
Forecast of domestic gasoline prices in the coming 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, gasoline prices may continue to fall sharply.
In particular, the price of RON 95 - III gasoline is forecast to decrease by about 650 - 750 VND/liter; E5 gasoline decreases by about 600 - 700 VND/liter; Diesel oil decreases by about 300 - 400 VND/liter.
Today's gasoline and oil prices are for reference only and may change according to market developments.
Refer to more articles on gasoline prices HERE.
