Global Oil Prices Plummet by Nearly 6% on August 5th
Global oil prices plummeted by nearly 6% on August 5th, 2026, as WTI crude oil fell to $75.23 per barrel and Brent crude oil dropped to $78.68 per barrel. This significant decrease in oil prices comes after a day of fluctuation, with WTI trading between $75.15 and $75.43 per barrel, and Brent within the range of $78.68, $78.91 per barrel.
The drop in global oil prices may indicate downward pressure on energy costs ahead of the next price adjustment period. However, it is uncertain whether domestic gasoline and diesel prices will decrease accordingly. Retail prices are calculated based on the average price of petroleum products traded on the international market between two price adjustment periods, taking into account various factors such as taxes, fees, and exchange rates.
Petrolimex's retail prices for gasoline and diesel remained unchanged on August 5th, with prices effective from July 30th. However, these prices may be adjusted downward if global oil prices continue to drop in the coming days. The next regular announcement is scheduled for Thursday, August 6th, 2026.