Gasoline price today, May 29: All increased sharply

World oil price today

Today's gasoline prices increased simultaneously. At 9:09 (Vietnam time), WTI crude oil was at 62.66 USD/barrel, up 0.82 USD/barrel, equivalent to an increase of 1.33%. WTI crude oil closed the previous trading session at 61.84 USD/barrel, opening today's session at 61.86 USD/barrel.

Brent oil was at 75.09 USD/barrel, up 0.77 USD/barrel, equivalent to an increase of 1.20%. Brent oil closed the previous trading session at 64.32 USD/barrel and opened today's session at 64.32 USD/barrel.

Thus, world oil prices are on the path to a strong recovery. At the end of yesterday's trading session (May 28), Brent oil price increased by 1.26%, WTI oil increased by 1.56%. By this morning's session, both oil products continued to increase sharply.

According to Reuters, at a meeting on May 28, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided not to change production policies, and at the same time established a mechanism to build a production base line for 2027. Experts expect the move to curb production and prevent oil prices from sliding.

According to analysts, demand will increase sharply in the summer as the driving season begins, while output from countries outside OPEC+ remains unchanged and forest fires in Canada could affect supply.

In addition, oil prices will fluctuate according to the developments of global trade negotiations and US-Iran tensions.

Domestic gasoline prices today

On May 29, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities are applying) are as follows:

The above domestic retail price of gasoline and oil has been adjusted according to the price of the Ministry of Finance - Industry and Trade jointly announced in the price management session on the afternoon of May 22, 2025. Accordingly, petroleum products have adjusted in opposite directions with slightly decreased gasoline prices and slightly increased oil prices.

E5 RON 92 gasoline price decreased by 58 VND/liter, RON 95-III gasoline decreased by 62 VND/liter, diesel increased by 177 VND/liter, kerosene increased by 88 VND/liter and mazut increased by 352 VND/kg.

Today's gasoline discounts

The discount levels of gasoline products today, May 29, at some domestic gasoline trading enterprises are as follows:

Hoang Trong General Trading Co., Ltd: Hai Linh Warehouse, Hai Phong: Diesel oil 0.05s - II: 1,400 VND/liter, gasoline RON 95 - III: VND 1,200/liter; Bac Ninh warehouse: Diesel oil 0.05s - II: 1,250 VND/liter, gasoline RON 95 - III: 1,050 VND/liter; Nghi Son warehouse: Diesel oil 0.05s - II: 1,450 VND/liter, RON 95 - III gasoline: 1,250 VND/liter; Vu Dinh Vu, Petec: Diesel oil 0.05s - II: 1,400 VND/liter, RON 95 - III gasoline: 1,200 VND/liter, E5 RON 92 - II gasoline: 1,200 VND/liter.

Tu Luc Petroleum: Diesel discount 0.05S-II: 1,400 VND/liter; Diesel 0.001S-V: Out of stock; RON 95 - III gasoline: 1,200; E5 gasoline: 1,100 VND/liter.

MIPEC Petroleum: RON 95 - III Petroleum Discount: 1,100 VND/liter; E5 Petroleum: 1,000 VND/liter; Diesel 0.05S-II: 1,450 VND/liter. Applicable to the Northern region.

Forecast of domestic gasoline prices in the coming 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 this afternoon's price adjustment period, retail prices of gasoline may have opposite adjustments in the direction of increasing gasoline prices and decreasing oil prices.

Of which, RON 95 - III gasoline price is forecast to increase by about 35 VND/liter; E5 RON 92 - II gasoline increases by about 77 VND/liter; Diesel oil decreases by about 264 VND/liter.