According to a survey at 2:40 p.m. on June 1 (Vietnam time), WTI oil prices decreased by 0.15 USD/barrel (down 0.25%), down to 60.79 USD/barrel. Overall last week, WTI crude oil decreased by 0.74 USD/barrel, equivalent to a decrease of 1.2% compared to last week.
Brent oil price decreased by 0.57 USD/barrel (down 0. 90%), down to 62.78 USD/barrel. Overall last week, Brent oil decreased by 2 USD/barrel, equivalent to a decrease of more than 3% compared to last week.
In the world market, experts said that oil prices fell sharply due to concerns that OPEC+ will increase production beyond the plan, in the context of high global supply surplus, making it difficult for prices to maintain the current level and could fall to about 50 USD/barrel by the end of the year. In addition, US-China trade tensions, especially President Trump's statements on tariffs, also put downward pressure on oil prices in the market.
For the domestic market, a representative of a petroleum business said that - petroleum prices will fluctuate according to the world situation. Due to the increase in world oil prices last week, according to calculations, in the next price adjustment period, domestic retail prices of gasoline may fluctuate slightly, following an upward trend.
Domestic retail gasoline prices on June 1, 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).
