World oil price today
At the end of a trading week, WTI crude oil was at 69.76 USD/barrel last weekend, down to 67.04 USD/barrel this weekend. Overall last week, WTI crude oil decreased by 2.72 USD/barrel, equivalent to a decrease of 3.9% compared to last week.
Brent oil was at 72.81 USD/barrel last weekend, down to 70.36 USD/barrel this weekend. Overall last week, Brent oil decreased by 2.45 USD/barrel, equivalent to a decrease of 3.4% compared to last week.
According to analysts, at the beginning of the week, the Organization of the Petroleum Exporting Countries and its partners (OPEC+) suddenly announced that they would increase oil production by 138,000 barrels/day starting from April. This is the first time this group has adjusted production increase since 2022, creating downward pressure on oil prices as the market is concerned about more abundant supply in the context of demand not having many breakthroughs.
US oil inventories increased more than expected, showing that supply is still abundant, contributing to putting pressure on oil prices. Weak economic data from the US and Germany continues to put pressure on the energy market.
The tariffs imposed by the US on imports from Canada, Mexico and China also increased downward pressure on oil prices as the market worried about negative impacts on trade and economic growth. These factors have combined to cause world oil prices to fall sharply in the first week of March 2025.
Domestic gasoline prices today
On March 9, 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 March 6, 2025. Accordingly, gasoline prices have decreased sharply.
E5 RON 92 gasoline price decreased by 697 VND/liter, RON 95-III gasoline decreased by 710 VND/liter, kerosene decreased by 762 VND/liter, diesel decreased by 624 VND/liter, mazut decreased by 465 VND/kg.
Today's gasoline discounts
The discount levels of gasoline products today, March 9, at some domestic gasoline trading enterprises are as follows:
Hoang Trong General Trading Company Limited: Diesel 0.05S-II: 1,600 VND/liter, applied at Hai Linh warehouse, Hai Phong; RON 95-III gasoline: 1,600 VND/liter, applied at Hai Linh warehouse, Hai Phong; Diesel 0.05S-II: 1,450 VND/liter, applied at Bac Ninh warehouse; RON 95-III gasoline: 1,450 VND/liter, applied at Bac Ninh warehouse; E5 gasoline: 1,500 VND/liter at Dinh Vu warehouse, Petec.
Tu Luc Petroleum: Diesel discount 0.05S-II: 1,600 VND/liter; RON 95-III gasoline: 1,500 VND/liter; E5 gasoline: 1,500 VND/liter.
MIPEC Petroleum: RON 95-III Petroleum discount: 1,300 VND/liter; E5 Petroleum: 1,200 VND/liter; Diesel 0.05S-II: 1,650 VND/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 continue to fall sharply.
In particular, the price of RON 95-III gasoline is forecast to decrease by about 650 - 750 VND/liter; E5 gasoline decreases by about 600 - 700 VND/liter; Diesel oil decreases by about 300 - 400 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.
