According to a survey at 6:55 a.m. on March 31 (Vietnam time), WTI oil price increased by 0.07 USD/barrel (up 0.1%), to 69.43 USD/barrel. Brent oil price increased by 0.03 USD/barrel (up 0.04%), to 72.79 USD/barrel.
This week, tariffs will continue to be a factor that strongly affects the oil market. It is expected that on February 2, there will be an announcement about the tariff policy of US President Donald Trump. The announcement will reveal the countries and sectors that the Trump administration will target as it tries to reduce the global trade deficit of goods worth 1,200 billion USD.
On March 27, governments from Ottawa to Paris threatened to retaliate after Trump announced a 25% tariff on imported vehicles, damaging auto stocks and testing already strained relations with its allies.
Angelo Kourkafas, senior investment strategist at Edward Jones, said the announcement on February 2 could "not be a one-time event." According to this strategist, this is an important milestone, but in the end, it is still unable to completely resolve all the potential uncertainties that still exist.
Market reaction on April 2 will depend heavily on when the tariffs will be imposed in the future, especially industry-based tariffs, and how quickly other countries can counter counter counter countermeasures, said Matthew Aks at Evercore ISI.
Investors are concerned that the tariffs will increase the risk of long-term damage to the US economy. US consumer confidence in March fell to its lowest level in more than four years, as investors increased concerns about economic recession and higher inflation due to tariffs.
According to assessments from major financial institutions such as Goldman Sachs and Bloomberg Energy, oil prices will continue to fluctuate in April 2025 due to the influence of OPEC+, the new US tax policy and unfavorable weather factors in key producing regions.
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, gasoline prices may increase slightly.
Domestic retail gasoline prices on March 31, 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).
