According to a survey at 15:10 on August 16 (Vietnam time), WTI oil price decreased by 1.16 USD/barrel (down 1.81%), down to 62.80 USD/barrel. Brent oil price decreased by 0.99 USD/barrel (down 1.48%), down to 65.85 USD/barrel.
World oil prices continued to decline sharply in the last session of the week. The market continues to be affected by weak economic data from China. The country's industrial output fell to an 8-month low, while retail sales rose the slowest since December 2024. This puts pressure on investor psychology.
According to the Ministry of Industry and Trade, the world petroleum market this time (from August 7, 2025 to August 13, 2025) is affected by main factors such as: the US postponing the application of higher tax policies on imported goods from China; The President of the United States and the President of Russia are expected to meet to discuss the end of the conflict in Ukraine; OPEC+ decided to increase oil production in September; The military conflict between Russia and Ukraine continues... The above factors have caused the general trend of world petroleum prices in recent days to decrease.
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 management period, retail prices of gasoline may adjust in opposite directions in the direction of increasing gasoline prices and decreasing oil prices.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 150 VND/liter; E5 RON 92 - II gasoline increases by about 80 VND/liter; Diesel oil decreases by about 170 VND/liter.
In the adjustment session last week (8.14), the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND 19,354/liter (down VND 254/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,584/liter (down VND190/liter).
Prices of oil products also decreased simultaneously. Of which, diesel 0.05S is priced at VND18,077/liter (down VND723/liter); kerosene has a new price of VND18,020/liter (down VND640/liter); mazut is priced at VND15,268/kg (down VND379/kg).
