According to a survey at 4:13 p.m. on June 8 (Vietnam time), WTI oil price increased by 1.21 USD/barrel (up 1.91%), to 64.58 USD/barrel. Brent oil price increased by 1.13 USD/barrel (up 1.73%), to 66.47 USD/barrel.
The oil market is strongly affected by tariff negotiations and trade instability, increasing the impact of the US's tariff policies on the global economy.
According to the Ministry of Industry and Trade, the world petroleum market last week (from May 29, 2025 to June 4, 2025) was affected by main factors such as: OPEC+ maintained the same increase in oil production in July as in previous months; nuclear negotiations between the United States and Iran (a member of OPEC); updated information on the US tax policy on goods of trading partners; military conflict between Russia and Ukraine continues...
The above factors have caused world oil prices in recent days to fluctuate up and down depending on each commodity.
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, retail prices of gasoline may increase.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 30-50 VND/liter; E5 RON 92 - II gasoline increases by about 50 VND/liter; Diesel increases by about 100 - 200 VND/liter.
Domestic retail gasoline prices on June 8, 2025 will be applied according to the adjustment session from 3:00 p.m. on June 5 of the Ministry of Finance - Ministry of Industry and Trade.
In yesterday's adjustment session (June 5), the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 19,263/liter (up VND 67/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND19698/liter (up VND133/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND17,420/liter (up VND284/liter); kerosene has a new price of VND17,284/liter (up VND176/liter); mazut is priced at VND16,178/kg (down VND86/kg).
