According to a survey at 5:05 p.m. on May 17 (Vietnam time), WTI oil price increased by 0.87 USD/barrel (up 1.41%), to 62.49 USD/barrel. Brent oil price increased by 0.88 USD/barrel (down 1.36%), to 65.41 USD/barrel.
According to Dennis Kissler - Senior Vice President in charge of transactions at BOK Financial, the expected increase in OPEC+ oil production, along with the possibility of reaching a higher Iran nuclear deal, has re-appeared the downward price trading trend.
According to this Vice President, in the near future, when geopolitical tensions cool down, the demand for seasonal travel will increase sharply in the coming months.
ING analysts believe that a nuclear deal to lift sanctions would allow Iran to increase oil production and add about 400,000 barrels/day to the global market.
For the domestic market, according to a business representative, gasoline prices will fluctuate according to the world gasoline situation. According to current market developments, it is forecasted that in the next price adjustment period, retail prices of gasoline may have opposite adjustments.
Of which, RON 95 gasoline price is forecast to decrease by about 100 VND/liter; E5 gasoline decreases by about 90 VND/liter; Diesel increases by about 190 VND/liter.
Domestic retail gasoline prices on May 17, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 15 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on May 15, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, priced at VND19 cul/liter (up VND403/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND19,594/liter (up VND415/liter).
Prices of oil products increased simultaneously. Of which, diesel 0.05S is priced at VND 17,228/liter (up VND 419/liter); kerosene has a new price of VND 17,226/liter (up VND 285/liter); mazut is priced at VND 16,160/kg (up VND 627/kg).
