World oil prices today
At the end of the trading week, WTI crude oil was at 74.66 USD/barrel last week, down to 72.53 USD/barrel this weekend. Overall, WTI crude oil decreased by 2.13 USD/barrel last week, equivalent to a decrease of 2.9% compared to the previous week.
Brent crude oil was at $78.50/barrel last week, down to $75.67/barrel this weekend. Overall, Brent crude oil fell $2.83/barrel last week, down 3.6% from the previous week.
Thus, world oil prices have decreased for the second consecutive week after a series of 4 consecutive weeks of increase. According to analysts, the US President's announcement of imposing a 25% tax on exports from Canada and Mexico, and a 10% tax on goods from China has created instability in the market, contributing to the decline in oil prices.
In addition, the latest US sanctions against Moscow are “choking” crude oil exports from Russia’s western ports, with February exports expected to fall 8% compared to January’s plan.
The market is also awaiting a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), scheduled for February 3. According to Reuters, OPEC+ is unlikely to change its plan to gradually increase production, although Mr. Trump has urged the Organization of the Petroleum Exporting Countries (OPEC) and Saudi Arabia to lower prices.
Domestic gasoline prices today
On February 2, 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 and oil was adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of February 1, 2025. Accordingly, all gasoline and oil products decreased simultaneously.
The price of E5 RON 92 gasoline decreased by 201 VND/liter, RON 95-III gasoline decreased by 140 VND/liter, diesel oil decreased by 948 VND/liter, kerosene decreased by 671 VND/liter, and fuel oil decreased by 250 VND/kg.
Gasoline discount today
Discount prices of petroleum products today, February 2, at some domestic petroleum businesses are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,150 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,150 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,000 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,000 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 950 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Discount on Diesel 0.05S-II: 1,100 VND/liter; Diesel 0.001S-V: 1,000; RON 95 - III gasoline: 1,150 VND/liter; E5 gasoline: 1,100 VND/liter.
MIPEC Gasoline: Discount on RON 95 - III gasoline: 1,150 VND/liter; E5 gasoline: 1,000 VND/liter; Diesel 0.05S-II: 2,100 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 decrease slightly.
Today's gasoline prices are for reference only and may change according to market conditions.
See more articles about gasoline prices HERE.
