According to a survey at 2:00 p.m. on March 25 (Vietnam time), WTI oil price increased by 0.16 USD/barrel (up 0.23%), to 68.44 USD/barrel. Brent oil price increased by 0.11 USD/barrel (up 0.15%), to 71.72 USD/barrel.
"Investors are concerned that different tariffs imposed by US President Donald Trump could slow the economy and limit oil demand," said Tsuyoshi Ueno, senior economist at the NLI Institute.
However, the prospect of the US tightening sanctions on Venezuela and Iran's oil could limit supply. This, along with his sudden policy changes, is making it difficult to hold senior positions."
"We expect WTI prices to remain around $70 for the rest of the year, with the possibility of a seasonal increase as the US and other countries enter the driving season," the expert said.
Last week, the US issued new sanctions targeting Iran's oil exports. However, crude oil prices fell from a session high after the Trump administration extended the deadline until May 27 for US manufacturer Chevron to end operations in Venezuela.
ANZ analysts said that revoking Chevron's operating license could reduce production by about 200,000 barrels per day. In addition, oil prices are also under pressure from concerns about the economic situation in the context of increasing global trade tensions.
President Trump said that auto tariffs will soon be imposed even as he hinted that not all of the tariffs he threatened would be imposed on April 2 and that some countries could see tax cuts, a move that Wall Street has seen as a sign of flexibility in the issue that has plagued the market for weeks.
For the domestic market, a representative of a petroleum business said that petroleum prices will fluctuate according to the world situation. According to current market developments, it is forecasted that in the next price adjustment period, gasoline prices may increase.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 210 VND/liter; E5 gasoline increases by about 200 VND/liter; Diesel increases by about 50 VND/liter.
Domestic retail gasoline prices on March 25, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 20 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on March 20, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND19,695/liter (up VND414/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND 20,087/liter (up VND 438/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND17,893/liter (down VND5/liter); kerosene has a new price of VND18,118/liter (up VND28/liter); mazut is priced at VND16,955/kg (down VND40/kg).
