According to a survey at 2:46 p.m. on June 2 (Vietnam time), WTI oil price increased by 1.62 USD/barrel (up 2.66%), to 62.41 USD/barrel. Brent oil price increased by 1.41 USD/barrel (up 2.25%), down to 64.19 USD/barrel.
OPEC+ has just decided to increase production by 411,000 barrels/day in July, marking the third consecutive month of maintaining this increase. The move aims to regain market share and sanction countries that produce more than their quotas.
Experts predict OPEC+ will continue to increase production in August due to high summer oil demand and positive global economic data. Meanwhile, US fuel inventories are low and gasoline demand is rising sharply as the driving season begins.
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 have opposite adjustments.
In particular, the price of RON 95 - III gasoline is forecast to decrease by about 70 VND/liter; E5 RON 92 - II gasoline decreases by about 80 VND/liter; Diesel increases by about 100 VND/liter.
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 2, 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).
