World oil price today
World oil prices today decreased simultaneously. At 11:19 (Vietnam time), WTI crude oil was at 67.60 USD/barrel, down 0.66 USD/barrel, equivalent to a decrease of 0.97%. WTI crude oil closed the previous trading session at 68.26 USD/barrel, opening today's session at 68.04 USD/barrel.
Brent oil was at 70.75 USD/barrel, down 0.29 USD/barrel, equivalent to a decrease of 0.41%. Brent oil closed the previous trading session at 71.04 USD/barrel and opened today's session at 70.99 USD/barrel.
Thus, world oil prices have had consecutive declines. At the end of yesterday's trading session (September 4), Brent and WTI oil prices decreased by 0.8% and 0.2%, respectively. The decline continued in this morning's session.
Reuters said on March 3, OPEC+ ( Organization of the Petroleum Exporting Countries and its partners) decided to increase oil production by 138,000 barrels/day in April, marking the first adjustment since 2022.
According to analysts, the change in OPEC+'s strategy seems to be prioritizing political factors over prices. This move surprised the market, especially in the context of the US calling for a price cut.
Regarding tariffs, the US has imposed a tariff of 25% on imports from Canada and Mexico, 10% on energy from Canada, and 20% (up 10% compared to before) on imports from China.
China quickly responded by announcing a 10% - 15% increase in import tariffs on many US agricultural and food products, while limiting exports and investment for 25 companies in the country.
The above developments caused oil prices to fall sharply for most of the trading session, before narrowing down at the end of the session.
Domestic gasoline prices today
On March 5, 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 February 27, 2025. Accordingly, E5 RON 92 gasoline price decreased by 197 VND/liter, RON 95-III gasoline decreased by 19 VND/liter, kerosene decreased by 178 VND/liter, diesel decreased by 106 VND/liter. Only mazut oil increased by 19 VND/kg.
Today's gasoline discounts
The discount prices of gasoline products today, March 5, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S - II: 1,850 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95 - III gasoline: 1,700 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S - II: 1,700 VND/liter, applied at Bac Ninh warehouse; RON 95 - III gasoline: 1,550 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,600 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount 0.05S-II: 1,800 VND/liter; Diesel 0.001S-V: 1,650; RON 95 - III gasoline: 1,600; E5 gasoline: 1,600 VND/liter.
MIPEC Petroleum: RON 95 - III Petroleum Discount: VND 1,500/liter; E5 Petroleum: VND 1,400/liter; Diesel 0.05S-II: VND 2,000/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 decrease slightly.
In particular, the price of RON 95 - III gasoline is forecast to decrease by about 700-750 VND/liter; E5 gasoline decreases by about 680-720 VND/liter; Diesel oil decreases by about 600-650 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.
