World oil prices today
World oil prices increased sharply in the trading session on October 3 (Vietnam time). At 09:53, WTI crude oil was at 70.79 USD/barrel, up 0.69 USD/barrel, equivalent to an increase of 0.98%. WTI crude oil closed the previous trading session at 70.10 USD/barrel, opening today's session at 70.94 USD/barrel.
Brent crude oil was at $74.53 a barrel, up $0.63 a barrel, or 0.85 percent. Brent crude oil closed the previous session at $73.90 a barrel and opened today at $74.73 a barrel.
Thus, world oil prices have increased for the third consecutive session since the beginning of this week. According to analysts, the main reason for this increase is the war situation in the Middle East when Iran launched a series of missiles at Israel and Israel's ground attack on Lebanon raised concerns that oil supplies would be affected.
Information limiting the rise in oil prices was that US oil inventories increased by 3.9 million barrels to 417 million barrels, contrary to the American Petroleum Institute's estimate of a decrease of 1.5 million barrels; gasoline inventories increased by 1.1 million barrels, and distillate inventories decreased by 1.3 million barrels.
Domestic gasoline prices today
On October 3, 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 - Ministry of Industry and Trade in the price management session on the afternoon of September 26. Accordingly, gasoline and oil prices were adjusted up. RON 95 gasoline increased by 750 VND/liter; E5 RON 92 gasoline increased by 680 VND/liter; diesel increased by 460 VND/liter; kerosene increased by 320 VND/liter; and fuel oil increased by 530 VND/kg.
Gasoline discount today
Discount prices of petroleum products today (October 3) at some domestic petroleum dealers are as follows:
PV OIl discount on October 3: Oil: 1,350 VND/liter; RON 95 - III gasoline: 1,500 VND/liter; E5 gasoline: 1,350 VND/liter.
Tu Luc Petroleum discounts on October 3 as follows: Oil: 1,300 VND/liter; RON 95 - III gasoline: 1,450 VND/liter; E5 gasoline: 1,300 VND/liter.
MIPEC gasoline discount on October 3: RON 95 - III gasoline: 1,500 VND/liter; E5 gasoline: 1,250 VND/liter; oil: 1,150 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 price adjustment period this afternoon (October 3), petroleum prices may decrease sharply. Of which, gasoline may decrease by about 600-700 VND/liter; oil may decrease by about 150-200 VND/liter.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 19 times and decreased 19 times. Oil prices have increased 17 times and decreased 21 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.
