At 6:30 PM on July 29, 2026, world gasoline and oil prices reversed to increase. Accordingly, WTI oil price was at 83 USD/barrel, up 3.74 USD/barrel, equivalent to an increase of 4.72%. Brent oil was at 85.71 USD/barrel, up 3.63 USD/barrel, equivalent to an increase of 4.42%.
On the trading day of July 29, world oil prices reversed to increase after three sessions of deep decline as tensions between the US and Iran escalated. World oil prices regained momentum as geopolitical risks returned and factors such as reduced inventories, OPEC+ may delay production increases to continue supporting the market. In the short term, world oil price developments will mainly depend on the escalation of the US-Iran conflict and the transportation situation through the Strait of Hormuz.
Previously, on the trading day of July 28, world oil prices fell sharply as expectations of the US and Iran resuming negotiations helped cool down concerns about supply disruptions. The upcoming trend will mainly depend on the developments of US-Iran negotiations and the speed of restoring transportation through the Strait of Hormuz.
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: The re-emergence of attacks between the US and Iran; the US announced the re-imposition of blockades on Iran's coast, ports, and oil storage facilities; Iran announced the closure of the Strait of Hormuz; the military conflict between Russia and Ukraine continues, Ukraine focuses on attacking Russian oil refineries; Russia bans diesel oil exports... The above factors mainly caused the world finished gasoline and oil prices to increase in recent days.
The selling prices of popular consumer gasoline and oil items on the market on July 29 are as follows:
- E5 RON92 gasoline: not higher than 20,888 VND/liter, 547 VND/liter lower than E10 RON95-III gasoline;
- E10 RON95-III gasoline: not higher than 21,435 VND/liter;
- Diesel oil 0.05S: not higher than 25,768 VND/liter;
- 180CST 3.5S fuel oil: not higher than 15,562 VND/kg.
Gasoline and oil selling prices of neighboring countries Vietnam on July 23, 2026:
- Regarding gasoline prices: Thailand: 27,380 VND/liter (Government subsidies); Cambodia: 28,012 VND/liter (Government subsidies); Laos: 46,512 VND/liter China: 30,168 VND/liter (Government price control); Vietnam: 21,435 VND/liter.
- Regarding oil prices: Thailand: 27,380 VND/liter (Government subsidies); Cambodia: 32,247 VND/liter; Laos: 37,056 VND/liter; China: 27,189 VND/liter (Government price control); Vietnam: 25,768 VND/liter.
Vietnam's gasoline and oil prices are currently lower than those of countries sharing a common border.
