According to a survey at 2:58 p.m. on July 7 (Vietnam time), WTI oil prices increased slightly by 0.03 USD/barrel (up 0.05%), to 66.53 USD/barrel. Brent oil price decreased by 0.17 USD/barrel (down 0.25%), down to 68.13 USD/barrel.
Oil prices fell on the first day of the week after OPEC+ surprised the market by increasing production more than expected in August. The increase in August was a leap forward from the monthly increase of 411,000 barrels/day approved by OPEC+ for May, June and July, and 138,000 barrels/day in April.
At the same time, world oil prices are also under pressure when US officials announced a delay in the rate of application but did not provide detailed information about the changes to the rate of tax to be applied.
According to information from the Ministry of Industry and Trade, the world petroleum market this week (from June 26, 2025 to July 2, 2025) is affected by main factors such as: OPEC+ plans to increase oil exploitation output in August; Iran announced the suspension of cooperation with the International Atomic Energy Agency (IAEA); US crude oil reserves increased; military conflict between Russia and Ukraine continues... The above factors have caused world petroleum prices to fluctuate in recent days depending on each commodity.
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 increase simultaneously;
Of which, RON 95 - III gasoline price is forecast to increase by about 220 VND/liter; E5 RON 92 - II gasoline increases by about 280 VND/liter; Diesel increases by about 300 VND/liter
Domestic retail gasoline prices on July 7, 2025 will be applied according to the adjustment session from 3:00 p.m. on July 3 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on July 3, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND19,545/liter (down VND1,085/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19 906/liter (down VND1,210/liter).
Prices of oil products also decreased simultaneously. Of which, diesel 0.05S is priced at VND18,408/liter (down VND941/liter); kerosene has a new price of VND18,132/liter (down VND932/liter); mazut is priced at VND15,807/kg (down VND1,148/kg).
