Surveyed at 9:00 a.m. on January 28 (Vietnam time), WTI oil price increased by 0.10 USD/barrel, equivalent to an increase of 0.14%, to 73.22 USD/barrel. Brent oil price increased by 0.15 USD, equivalent to an increase of 0.20%, to 76.27 USD/barrel.
Oil prices fell nearly 2% on January 27, hitting a two-week low, as news of China’s DeepSeek energy-saving AI model weighed on the market, Reuters reported. DeepSeek’s AI assistant, which has overtaken ChatGPT on the US App Store, has raised questions among investors about the expected energy demand for US data centers.
Oil prices have fallen in recent days following President Trump's call last week for the Organization of the Petroleum Exporting Countries to lower oil prices, analysts said.
“President Trump continues to pressure OPEC… calling on the producer group to lower prices to help end Russia’s war in Ukraine,” Bob Yawger, director of energy futures at Mizuho, said in a report.
OPEC and its allies including Russia in the OPEC+ group have yet to respond to Trump's call, while OPEC+ delegates pointed to an existing plan to start increasing oil production from April.
Mr Trump’s tariff threats have also largely weighed on oil prices, raising concerns that a trade war could hurt global economic growth and oil demand.
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, petroleum prices may decrease.
Domestic retail prices of gasoline and oil on January 28, 2025 will be applied according to the price level at the management session on the afternoon of January 23 of the Ministry of Finance - Industry and Trade.
Accordingly, E5 RON 92 gasoline decreased by 158 VND/liter, not higher than 20,592 VND/liter. RON 95 gasoline price decreased by 78 VND/liter, not higher than 21,142 VND/liter.
Prices of all types of oil also increased simultaneously. Of which, diesel increased by 412 VND/liter, not higher than 20,194 VND/liter; kerosene increased by 404 VND/liter, to 20,110 VND/liter and fuel oil price increased by 571 VND/kg, not higher than 17,752 VND/kg.
