According to a survey at 8:52 a.m. on February 2 (Vietnam time), WTI oil price increased by 0.02 USD/barrel (up 0.03%), to 71.22 USD/barrel. Brent oil price increased by 0.06 USD/barrel (up 0.08%), to 74.47 USD/barrel.
Oil prices stabilized on Wednesday after falling in the previous session, due to concerns that the new US tax rate announced at the end of the day could aggravate the global trade war, thereby limiting demand for crude oil.
The White House confirmed on Tuesday that President Donald Trump will impose a new tax rate on Wednesday, although it did not provide details on the scale and scope of trade barriers.
In addition, US oil reserves also reflect a mixed picture of supply and demand from the world's largest producer and consumer country.
According to sources from the American Petroleum Institute, US crude oil reserves increased by 6 million barrels in the week ended March 28. However, gasoline reserves have decreased by 1.6 million barrels, while distillate reserves have decreased by 11,000 barrels.
Official US crude oil reserve data from the Energy Information Administration will be released later on Wednesday.
The gasoline price forecasting model using machine Learning of the Vietnam Petroleum Institute (VPI) shows that in the adjustment period on April 3, 2025, gasoline prices may increase by 0.3-1.9% if the Ministry of Finance - Industry and Trade does not set aside or use the Petroleum Price Stabilization Fund.
According to Mr. Doan Tien Quyet, VPI's data analysis expert, the gasoline price forecast model using the artificial neural network model ( sp) and the supervised learning algorithm (Supervised Learning) in VPI predicts that retail price of E5 RON 92 gasoline will continue to increase by 300 VND (1.5%) to 20,330 VND/liter, while RON 95-III gasoline may increase by 386 VND (1.9%) to 20,806 VND/liter.
VPI's model also predicts that retail oil and diesel prices this period will tend to increase. Accordingly, diesel may increase by 1.2% to VND18,430/liter, while kerosene may increase by 1.1% to VND18,718/liter, mazut may increase slightly by 0.3% to VND16,951/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 April 2, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 27 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on March 27, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 20,032/liter (up VND 337/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND 20,424/liter (up VND 337/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND18,217/liter (down VND324/liter); kerosene has a new price of VND18,524/liter (up VND406/liter); mazut is priced at VND16,902/kg (down VND53/kg).
