Deep decline, forecast to continue falling.

Brent crude oil was at $80.58 per barrel at the end of last week, falling to $77.57 per barrel this week. Overall for the past week, Brent crude oil decreased by $3.01 per barrel, or 3.7%, compared to the previous week.

Analysts believe the sharp drop in global oil prices is due to disappointing economic data from the US and expectations that the Federal Reserve (Fed) will soon cut interest rates. In addition, disappointing economic data from China also negatively impacted oil prices. Imports and refining activity in China in June were lower than the same period last year.

Domestic fuel prices today

On August 4th, 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:

The aforementioned domestic retail fuel prices were adjusted by the Ministry of Finance and the Ministry of Industry and Trade at the price adjustment session on the afternoon of August 1st. Accordingly, diesel fuel saw the largest decrease, at 316 VND/liter. Mazut fuel decreased by 292 VND/kg, E5 RON 92 gasoline decreased by 284 VND/liter, and RON 95-III gasoline decreased by 281 VND/liter. Kerosene decreased the smallest, at 231 VND/liter. This marks the fourth consecutive reduction in domestic fuel prices.

Today's fuel discounts

The discounted prices of petroleum products today, August 4th, at some domestic gas stations are as follows:

Pvoil applies the following discounts on August 4th: Diesel: 1,400 VND/liter; RON 95 - III gasoline: 1,350 VND/liter; E5 gasoline: 1,150 VND/liter. These discounts apply at Pvoil Dinh Vu, Petec An Hai, and Cai Lan depots.

Tu Luc fuel company's discounts on August 4th are as follows: Diesel: 1,350 VND/liter; RON 95 - III gasoline: 1,300 VND/liter; E5 gasoline: 1,100 VND/liter.

MIPEC fuel discounts on August 4th: Gasoline 95-III: 1,300 VND; E5 gasoline: 1,200 VND; diesel: 1,600 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 global fuel prices. It is predicted that fuel prices will continue to decrease in the next price adjustment period.

Since the beginning of the year, starting from the price adjustment on January 4th, gasoline prices have increased 16 times and decreased 14 times. Diesel prices have increased 15 times and decreased 15 times.