According to the survey at 15:03 on June 3 (Vietnam time), WTI oil price increased by 0.46 USD/barrel (up 0.74%), to 62.98 USD/barrel. Brent oil price increased by 0.38 USD/barrel (up 0.59%), to 65.01 USD/barrel.
The oil market saw a spike early in the week due to rising geopolitical tensions and oil production from OPEC+ not meeting expectations, according to analysts at ING. This increase continued until the next morning, reflecting that market sentiment was still dominated by uncertain supply-demand factors.
According to the Ministry of Industry and Trade, the world petroleum market in the recent management period (from May 15, 2025 to May 21, 2025) was affected by main factors such as: continued tensions in the Middle East; increased US crude oil reserves; updated information on US tax policies on goods from trading partners; military conflict between Russia and Ukraine continues... The above factors have caused world petroleum 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 80 VND/liter; E5 RON 92 - II gasoline increases by about 10 VND/liter; Diesel increases by about 220 VND/liter.
Domestic retail gasoline prices on June 3, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 29 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session last week (May 29), the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND19196/liter (up VND74/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND19,565/liter (up VND33/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND17,136/liter (down VND269/liter); kerosene has a new price of VND17,108/liter (down VND206/liter); mazut is priced at VND16,264/kg (down VND248/kg).
