According to a survey at 10:45 a.m. on April 30 (Vietnam time), WTI oil prices decreased by 0.69 USD/barrel (down 1.14%), down to 59.73 USD/barrel. Brent oil price decreased by 0.23 USD/barrel (down 0.36%), down to 63.05 USD/barrel.
According to Daniel Hynes - senior commodity strategist at ANZ Bank, concerns about demand in the context of the trade war have affected investors' psychology.
"In addition, there are concerns that the recent strength in US economic data is only temporary, as pre-tariff accumulation appears to have eased," he noted.
Data released on Tuesday showed that US consumer confidence fell to nearly five-year lows in April, driven by growing concerns about tariffs.
In terms of supply, market sources said on Tuesday, based on data from the American Petroleum Institute, US crude oil reserves increased by 3.8 million barrels last week.
Oil prices are also affected by the ability to increase production from the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, especially as the US-China trade war puts pressure on demand.
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 increase.
In particular, RON 95 gasoline price may increase by about 100-250 VND/liter; E5 gasoline may increase by about 0-200 VND/liter; Diesel oil increases by about 0-100 VND/liter.
According to Decree 80, the time for regulating gasoline prices will fall on Thursdays every week. However, the decree also clearly states that in case Thursday coincides with the first day of the holiday, the time for regulating gasoline prices will be implemented on the previous Wednesday.
If Thursday coincides with other holidays, the time for regulating gasoline prices will be implemented on the first working day after the holiday.
Therefore, the management of gasoline prices will be carried out on Monday, May 5 (ie the first working day after the holiday) because Thursday (May 1) is the International Labor Day holiday (ie the second day off of the holiday on September 30-1).
Domestic retail gasoline prices on April 30, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 24 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on April 24, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, priced at VND 19,238/liter (up VND 740/liter). RON 95-III gasoline price increased compared to the previous adjustment period, at VND19,638/liter (up VND782/liter).
Prices of oil products increased simultaneously. Of which, diesel 0.05S is priced at VND17,524/liter (up VND487/liter); kerosene has a new price of VND17,71/liter (up VND531/liter); mazut is priced at VND16,524/kg (up VND564/kg).
