According to a survey at 1:05 p.m. on May 24 (Vietnam time), WTI oil price increased by 0.29 USD/barrel (up 0.48%), to 60.93 USD/barrel. Brent oil price increased by 0.34 USD/barrel (up 0.53%), to 64.78 USD/barrel.
World crude oil prices continued to increase by more than 0.5% in the trading session at the end of the week, but by the end of the week, oil prices decreased slightly. Data shows that the price of finished gasoline and oil referring to the Singapore market is fluctuating in different directions.
According to analysts, the market is under pressure due to two factors: the impact of tariffs will affect demand and the Organization of the Petroleum Exporting Countries and its allies (OPEC +) is expected to increase production in July.
According to the Ministry of Industry and Trade, the world petroleum market last week's operating period (from May 15, 2025 to May 21, 2025) was affected by main factors such as: continued tension 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 depending on each commodity.
For the domestic market, a representative of a petroleum business said that domestic petroleum prices will fluctuate according to the world situation. According to current market developments, it is forecasted that in this afternoon's price adjustment period, retail prices of gasoline may have opposite adjustments in the direction of increasing gasoline prices and decreasing oil prices.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 50-100 VND/liter; E5 RON 92 - II gasoline increases by about 80-120 VND/liter; Diesel oil decreases by about 250-350 VND/liter.
Domestic retail gasoline prices on May 24, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 22 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on May 22, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND19,122/liter (down VND58/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,532/liter (down VND62/liter).
Prices of oil products increased simultaneously. Of which, diesel 0.05S is priced at VND 17,405/liter (up VND 177/liter); kerosene has a new price of VND 17,314/liter (up VND 88/liter); mazut is priced at VND 16,512/kg (up VND 352/kg).
