Up after a sharp decline

Gasoline and diesel prices surged today after a sharp drop in the previous session. (Illustrative image: PLX)

Today's world oil prices

World oil prices rose across the board in today's trading session (September 10th, Vietnam time). At 9:43 AM (Vietnam time), WTI crude oil was at $66.28 per barrel, up $0.52 per barrel, or 0.79%. WTI crude oil closed the previous trading session at $65.75 per barrel and opened today's session at $66.33 per barrel.

Brent crude oil was trading at $69.72 per barrel, up $0.53 per barrel, or 0.77%. Brent crude closed the previous trading session at $69.19 per barrel and opened today's session at $71.97 per barrel.

Oil prices continued their downward trend this week after rising 1% in the first trading session of the week (September 9). By September 10, Brent crude closed down sharply by 3.69%, at $69.19 per barrel, its lowest level since December 2021. WTI crude fell 4.31%, to $65.75 per barrel.

According to Reuters, in its recently released monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand will increase by 2.03 million barrels per day this year, down from the organization's forecast of 2.11 million barrels per day growth last month.

However, contrary to OPEC's forecast, the US Energy Information Agency (EIA) predicts global oil demand will average approximately 103.1 million barrels per day in 2024, 200,000 barrels per day higher than its previous forecast of 102.9 million barrels per day.

Domestic gasoline prices today

On September 11th, the retail prices of gasoline and diesel fuel, according to Petrolimex 's published price list in Zone 1 and Zone 2 (applied to 46 provinces and cities), are as follows:

Domestic fuel prices on September 9th, according to the price list published by Petrolimex.

The aforementioned domestic retail fuel prices were adjusted by the Ministry of Finance and the Ministry of Industry and Trade at the price adjustment meeting on the afternoon of September 5th. Accordingly, the price of E5 RON 92 gasoline decreased by 353 VND/liter, RON 95-III gasoline decreased by 282 VND/liter, diesel decreased by 385 VND/liter, and kerosene decreased by 341 VND/liter. The price of mazut decreased the most, by 407 VND/kg.

Today's fuel discounts

The discounted prices of petroleum products today, September 11th, at some domestic gas stations are as follows:

PV Oil's discounts on September 11th are as follows: Diesel discount: 2,150 VND/liter; RON 95 - III gasoline: 2,000 VND/liter; E5 gasoline: 1,700 VND/liter.

Tu Luc fuel company's discounts on September 11th are as follows: Diesel: 2,100 VND/liter; RON 95 - III gasoline: 1,950 VND/liter; E5 gasoline: 1,650 VND/liter.

MIPEC fuel discounts on September 11th: RON 95 - III: 1,800 VND/liter; E5 gasoline: 1,500 VND/liter; diesel: 2,250 VND/liter.

Forecast of domestic gasoline and diesel prices for the next period.

According to a representative of a petroleum business, domestic fuel prices will fluctuate according to the global fuel situation. Based on current market developments, it is predicted that fuel prices may decrease sharply in the next price adjustment period. Specifically, gasoline prices could decrease by 900-1,000 VND/liter; diesel prices could decrease by about 600 VND/liter.

Since the beginning of the year, counting from the price adjustment on January 4th, gasoline prices have increased 17 times and decreased 18 times. Diesel prices have increased 16 times and decreased 19 times.

Source: https://laodong.vn/kinh-doanh/gia-xang-dau-hom-nay-119-bat-tang-sau-phien-giam-manh-1392561.ldo