According to the survey at 15:03 on June 4 (Vietnam time), WTI oil price decreased by 0.29 USD/barrel (down 0.46%), down to 63.12 USD/barrel. Brent oil price decreased by 0.28 USD/barrel (down 0.43%), down to 65.35 USD/barrel.
World oil prices have risen about 2% yesterday, reaching a two-week high, largely due to concerns about supply disruptions from forest fires in Canada and the possibility of Iran rejecting a nuclear deal proposal from the US.
However, according to Mr. Tsuyoshi Ueno - senior economist at the NLI Research Institute, the price increase is facing obstacles due to the influence of OPEC+ maintaining a cautious supply policy. In addition, market sentiment is still quite reserved despite expectations of trade progress between the US and China, because investors are taking profits and are concerned about the economic impact of tariff tensions.
According to Mr. Doan Tien Quyet - VPI's data analysis expert, the retail price of E5 RON 92 gasoline may decrease by only VND 58 (0.3%) to VND 19,132/liter, while RON 95-III gasoline may decrease by only VND 4 (3.8%) to VND 19,556/liter.
VPI's model predicts that diesel prices this period may increase by 1.2%, to VND 17,336/liter, kerosene may increase by 0.8%, to VND 17,237/liter, while mazut may decrease by 1.4%, to VND 16,032/kg.
VPI forecasts that the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Domestic retail gasoline prices on June 4, 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).
