At 5:51 PM on April 8, WTI oil price was at 94.67 USD/barrel, down 18.28 USD/barrel, equivalent to a decrease of 16.18%. Brent oil was at 93.73 USD/barrel, down 15.54 USD/barrel, equivalent to a decrease of 14.22%.
Oil prices fell below $100 a barrel on Wednesday after US President Donald Trump announced he had agreed to a two-week ceasefire agreement with Iran on the condition that the Strait of Hormuz must be reopened immediately and safely.
Trump's change of stance took place just before the deadline he set for Iran to open the Strait of Hormuz, where 20% of the world's oil passes through, otherwise it will face widespread attacks on the country's civilian infrastructure.
Domestically, gasoline and oil prices are regulated from 3:30 PM on April 8, 2026. Accordingly, domestic gasoline and oil prices are applied at:
- E5RON92 gasoline: not higher than 24,737 VND/liter.
- Gasoline RON95-III: not higher than 26,536 VND/liter.
- Diesel oil 0.05S: not higher than 42,841 VND/liter.
- 180CST 3.5S fuel oil: not higher than 24,271 VND/kg.
According to the Ministry of Industry and Trade, the world gasoline and oil market in the operating period of April 8, 2026 is affected by key factors such as: military conflict between the US, Israel and Iran continues to take place; US President declares 2-week ceasefire with Iran; Iran will stop attacks if attacks on Iran end, traffic through the Strait of Hormuz will be guaranteed safe for 2 weeks under the supervision of Iranian armed forces; military conflict between Russia and Ukraine continues to take place... The above factors have caused world finished gasoline and oil prices to tend to decrease in recent days.
Recently, the Ministry of Industry and Trade issued Circular No. 19/2026/TT-BCT dated April 3, 2026, stipulating advances for the gasoline and oil price stabilization fund from the state budget, establishing the Fund and refunding advances.
The Circular specifically stipulates the procedure for advance payment of the Fund from the state budget. For the first advance payment, the amount is determined based on the volume of gasoline and oil sold in the previous 7 consecutive days and the level of fund expenditure according to the approved plan.
Subsequent advances are made periodically weekly or when necessary, based on the amount spent and used in the previous operating period and the existing fund balance. In case of exceeding the limit, the trader must clearly explain the reason.
In the process of use, the total amount of fund expenditure in the operating period is calculated according to the expenditure level announced by the management agency multiplied by the actual consumption output. At the same time, the fund deduction must be completed within 5 working days after each operating period.
Gasoline and oil selling prices of neighboring countries of Vietnam on April 8, 2026:
Regarding gasoline prices: Singapore: 70,328 VND/liter; Thailand: 35,494 VND/liter (Government subsidies); Cambodia: 36,380 VND/liter (Government subsidies); Laos: 50,928 VND/liter; China: 34,827 VND/liter (Government price control); Vietnam: 26,536 VND/liter.
Regarding oil prices: Singapore: 86,985 VND/liter; Thailand: 40,817 VND/liter (Government subsidies); Cambodia: 54,044 VND/liter; Laos: 63,180 VND/liter; China: 31,733 VND/liter (Government price control); Vietnam: 42,841 VND/liter.
Thus, Vietnam's gasoline and oil prices are currently at an average level and lower than countries sharing the same border, except for oil prices higher than China and Thailand.
