Gasoline price today October 9: Up after a sharp decline

World oil prices today

World oil prices increased across the board in the trading session on October 9 (Vietnam time). At 9:43 a.m., WTI crude oil was at $73.73 per barrel, up $0.16 per barrel, or 0.22%. WTI crude oil closed the previous trading session at $73.57 per barrel and opened today's session at $73.78 per barrel.

Brent crude oil was at $77.45 a barrel, up $0.27 a barrel, or 0.35 percent. Brent crude oil closed the previous session at $77.18 a barrel and opened today at $77.50 a barrel.

Thus, at the close of yesterday's trading session (October 8), crude oil prices fell sharply by nearly 5%. Accordingly, WTI oil prices fell by 4.63%; oil prices by 4.3%. By this morning's session, oil prices had all rebounded.

Oil prices fell sharply on news of a possible ceasefire between Hezbollah and Israel, but were still supported somewhat by concerns about the possibility of Iran attacking oil infrastructure, analysts said.

Some analysts say the likelihood of Israel attacking Iran's oil infrastructure is low and warn that oil prices could fall if Israel targets other targets.

On the supply side, in the US, Hurricane Milton strengthened into a Category 5 storm as it headed towards Florida, forcing at least one oil rig in the Gulf of Mexico to shut down.

Domestic gasoline prices today

On October 9, 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 price of gasoline was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of October 3.

Accordingly, gasoline prices were adjusted down across the board. E5 RON 92 gasoline price dropped the most, to 770 VND/liter.

Next is RON 95-III gasoline, down 715 VND/liter.

Oil prices decreased less, with diesel down 105 VND/liter, kerosene down 222 VND/liter, and fuel oil down 354 VND/kg.

So after two consecutive price increases, gasoline prices have turned to decrease.

Gasoline discount today

Discount prices of petroleum products today, October 9, at some domestic petroleum dealers are as follows:

PV OIl discount on October 9: Oil discount: 100 VND/liter; RON 95 - III gasoline: 0 VND/liter; E5 gasoline: 0 VND/liter. Applicable at PVOIL Dinh Vu warehouse, Petec An Hai, Cai Lan.

Tu Luc Petroleum discount on October 9: Oil discount: 50 VND/liter; RON 95 - III gasoline: 50 VND/liter; E5 gasoline: 50 VND/liter.

MIPEC gasoline discount on October 9: RON 95 - III discount: 50 VND/liter; E5 gasoline: 50 VND/liter; oil: 50 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 increase sharply. Of which, RON 95-III gasoline may increase by VND1,300/liter; E5 RON 92 gasoline is forecast to increase by VND1,100/liter; oil is also forecast to increase sharply by VND1,200/liter.

Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 19 times and decreased 20 times. Oil prices have increased 17 times and decreased 22 times.