WTI oil price was at 68.98 USD/barrel, down 0.52 USD/barrel, equivalent to a decrease of 0.75%. Brent oil was at 72.35 USD/barrel, down 0.60 USD/barrel, equivalent to a decrease of 0.82%.
On Wednesday's trading day, world oil prices fluctuated as US-Iran negotiations fell into deadlock, raising concerns about supply risks in the Middle East.
Previously, in Tuesday's trading session, world oil prices continued to fluctuate around 70-74 USD/barrel as the market balanced between expectations of US-Iran resuming dialogue and geopolitical risks still present in the Middle East. Notably, oil transportation through the Strait of Hormuz is gradually recovering, contributing to reducing concerns about supply disruptions.
According to the Ministry of Industry and Trade, the world gasoline and oil market in the past week's operating period was affected by key factors such as: Positive information about negotiations between the US and Iran; many oil tankers have passed through the Strait of Hormuz; military conflict between Russia and Ukraine continues, targeting each other's oil and gas facilities... The above factors have caused world finished gasoline and oil prices in recent days to increase and decrease depending on each item, but the general trend is downwards.
For the domestic market, business representatives said that although international crude oil prices are increasing, retail gasoline and oil prices are forecast to continue to decrease in the operating period on July 2nd thanks to Singapore's finished product prices still being low and tax exemption policies continuing to be maintained. Accordingly, domestic gasoline and oil prices may decrease from 50-700 VND/liter, depending on the item.
Previously, on June 30, 2026, the Government just issued Resolution No. 34/2026/NQ-CP on extending the application period of preferential import tax, environmental protection tax, and value-added tax on gasoline, oil, raw materials for producing gasoline, oil and aviation fuel.
The selling prices of popular consumer gasoline and oil items on the market on July 1st are as follows:
- E5 RON92 gasoline: not higher than 20,785 VND/liter, 418 VND/liter lower than E10 RON95-III gasoline;
- E10 RON95-III gasoline: not higher than 21,203 VND/liter;
- Diesel oil 0.05S: not higher than 21,866 VND/liter;
- 180CST 3.5S fuel oil: not higher than 15,030 VND/kg;
