At 6:27 PM on July 8, 2026, WTI oil price was at 74.31 USD/barrel, up 3.87 USD/barrel, equivalent to an increase of 5.49%. Brent oil was at 78.46 USD/barrel, up 4.3 USD/barrel, equivalent to an increase of 5.8%.
World oil prices rose more than 4% in the trading session on July 8 as geopolitical tensions in the Middle East escalated again. The upward momentum continued the upward momentum of about 3% of the previous session, bringing oil prices to recover significantly after a period of declining to levels before the US and Iran reached a ceasefire agreement.
The US conducted airstrikes in response to attacks on three merchant ships passing through the Strait of Hormuz, and canceled a joint license allowing Iranian crude oil consumption, raising concerns about the risk of supply disruption from the Middle East.
According to the Ministry of Industry and Trade, the world gasoline and oil market in this operating period is affected by key factors such as: Appearing retaliatory attacks between the US and Iran; positive signs in negotiations between the US and Iran; OPEC+ has the potential to increase oil production from August; military conflict between Russia and Ukraine continues, focusing heavily on 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.
Prices of popular consumer gasoline and oil items on the market on July 8th are as follows:
- E5 RON92 gasoline: not higher than 19,730 VND/liter, lower than E10RON95-III gasoline by 685 VND/liter;
- E10 RON95-III gasoline: not higher than 20,415 VND/liter;
- Diesel oil 0.05S: not higher than 21,176 VND/liter;
- 180CST 3.5S mazut oil: not higher than 14,053 VND/kg;
Gasoline and oil selling prices of neighboring countries of Vietnam on July 2, 2026:
- Regarding gasoline prices: Thailand: 30,759 VND/liter (Government subsidies); Cambodia: 26,455 VND/liter (Government subsidies); Laos: 41.313 VND/liter; China: 32,268 VND/liter (Government price control); Vietnam: 19,730 VND/liter.
- Regarding oil prices: Thailand: 30,314 VND/liter (Government subsidies); Cambodia: 26,128 VND/liter; Laos: 29,112 VND/liter; China: 29,251 VND/liter (Government price control); Vietnam: 21,176 VND/liter.
Vietnam's gasoline and oil prices are currently lower than those of countries sharing a common border.
