World oil prices today
World oil prices fell across the board in the trading session on November 8 (Vietnam time). At 12:14, WTI crude oil was at 71.86 USD/barrel, down 0.50 USD/barrel, or 0.69%. WTI crude oil closed the previous trading session at 72.36 USD/barrel and opened today's session at 72.17 USD/barrel.
Brent crude oil was at 75.19 USD a barrel, down 0.44 USD a barrel, or 0.58 percent. Brent crude oil closed the previous session at 75.63 USD a barrel and opened today at 75.55 USD a barrel.
Thus, after a sharp increase of nearly 1% yesterday (August 7), world oil prices turned sharply lower this morning. While the market considers how President-elect Donald Trump's policies will affect supply and as oil drilling companies cut production, preparing to respond to Hurricane Rafael.
Weighing on oil prices, the dollar index held at a two-week high despite falling nearly 1% after surging as markets digested news of Donald Trump’s victory. A stronger dollar makes prices more expensive for holders of other currencies.
In addition, China’s crude oil imports fell 9% in October, the sixth consecutive month of decline compared to the same period last year. Rising US oil and gasoline inventories were also a factor that prevented oil prices from climbing higher during the session.
Domestic gasoline prices today
On November 8, 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 and the Ministry of Industry and Trade in the price management session on the afternoon of October 31. Accordingly, most gasoline and oil products increased, except for fuel oil which decreased.
The price of E5 RON 92 gasoline increased by 336 VND/liter, RON 95-III gasoline increased by 351 VND/liter. Oil prices increased more sharply with diesel increasing by 769 VND/liter, kerosene increasing by 461 VND/liter. Only fuel oil recorded a decrease of 67 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, November 8, at some domestic petroleum dealers:
PVOIL discounts on November 8 as follows: Oil discount: 1,350 VND/liter; RON 95 - III gasoline: 1,050 VND/liter; E5 gasoline: 1,050 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.
Tu Luc Petroleum discounts on November 8 as follows: Oil discount: 1,300 VND/liter; RON 95 - III gasoline: 1,000 VND/liter; E5 gasoline: 1,000 VND/liter.
MIPEC gasoline discount on November 8: RON 95 - III discount: 800 VND/liter; E5 gasoline: 800 VND/liter; oil: 1,200 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 have opposite adjustments.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 21 times and decreased 23 times. Oil prices have increased 20 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.
