According to a survey at 1506 on May 14 (Vietnam time), WTI oil prices decreased by 0.13 USD/barrel (down 0.21%), down to 63.33 USD/barrel. Brent oil price decreased by 0.08 USD/barrel (down 0.12%), down to 66.55 USD/barrel.
Priyanka Sachdeva, senior market analyst at Phillip Nova, said that expectations of a remarkable increase in US oil reserves have limited the current optimism.
"This striking contrast to last week's significant withdrawal shows that demand is still struggling with significant challenges. This makes market watchers worried and wonder where the next move will come from" - Priyanka Sachdeva.
Investors remain vigilant with demand signals. The market is also watching US President Donald Trump's Gulf trip.
Mukesh Sahdev, global commodity market manager at Rystad Energy, said that preventing a spike in oil prices during the summer tourism season will be an important part of the president's agenda for this trip.
For the domestic market, Mr. Doan Tien Quyet - data analysis expert of VPI - predicted that the retail price of E5 RON 92 gasoline could increase by 225 VND (1.2%) to 18,995 VND/liter. Meanwhile, RON 95-III gasoline may increase by 374 VND (1.9%) to 19,544 VND/liter.
VPI's model predicts that mazut prices may decrease by VND 326 (2.1%) to VND 15,204/kg. Diesel is forecast to increase by 1% to VND16,966/liter. Kerosene may increase slightly by 0.2% to VND 16,977/liter.
VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this 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, retail prices of gasoline may increase.
In particular, RON 95 gasoline price is forecast to increase by about 380 VND/liter; E5 gasoline may increase by about 370 VND/liter; Diesel oil increases by about 350 VND/liter.
Domestic retail gasoline prices on May 14, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 8 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on May 8, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND18,777/liter (down VND377/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,179/liter (down VND407/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND 16,809/liter (down VND 550/liter); kerosene has a new price of VND 16,941/liter (down VND 623/liter); mazut is priced at VND 15,533/kg (down VND 665/kg).
