According to a survey at 2:40 p.m. on May 11 (Vietnam time), WTI oil price increased by 1.11 USD/barrel (up 1.85%), to 61.02 USD/barrel. Brent oil price increased by 1.07 USD/barrel (up 1.7%), to 63.91 USD/barrel.
Thus, for the whole week, both standard oil products increased by more than 4%. Analysts assessed that increased tensions in the Middle East will promote oil prices to climb during the week. However, analysts see the oil price outlook as still uncertain and largely dependent on the US economy; policies to implement sanctions on Iranian and Russian oil; and tariff negotiations.
Regarding the domestic situation, a representative of a business said that gasoline prices will fluctuate according to the world situation. According to current market developments, it is forecasted that in the next price management period, retail prices of gasoline may have opposite adjustments in the direction of slight increase in gasoline prices and decrease in oil prices. Gasoline price is forecast to increase by about 10-30 VND/liter; oil price decreases by about 60 VND/liter/kg.
According to the Ministry of Industry and Trade, the World Petroleum Market has recently run (from 5.5.2025 - 7.5.2025) affected by the main factors such as: increasing tensions in the Middle East; OPEC+ accelerate increasing oil production; Military conflict between Russia and Ukraine continued ... The above factors made the world gasoline prices in recent days fluctuating up and down depending on the item.
Domestic retail gasoline prices on May 11, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 8 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on May 8, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND18,777/liter (down VND377/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,179/liter (down VND407/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND 16,809/liter (down VND 550/liter); kerosene has a new price of VND 16,941/liter (down VND 623/liter); mazut is priced at VND 15,533/kg (down VND 665/kg).
Also in today's operating period, the operator did not set aside or use the Petroleum Price Stabilization Fund - BOG for all petroleum products.
