According to a survey at 2:44 p.m. on June 20 (Vietnam time), WTI oil price increased by 0.31 USD/barrel (up 0.42%), to 73.81 USD/barrel. Brent oil price decreased by 1.96 USD/barrel (down 2.49%), down to 76.89 USD/barrel.
According to analysts, world oil prices fluctuated strongly due to the continued escalation of the week-long airstrike between Israel and Iran, along with concerns about the possibility of US intervention.
For the domestic market, a representative of a petroleum business said that petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the upcoming price adjustment period, retail prices of gasoline may continue to increase sharply.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 700-900 VND/liter; E5 RON 92 - II gasoline increases by about 600-800 VND/liter; Diesel increases by about 1,400-1,600 VND/liter.
At the regular press conference of the Ministry of Industry and Trade in the second quarter of 2025 to discuss the issue of prices and ensuring gasoline supply, Mr. Hoang Anh Duong - Deputy Director of the Department of Domestic Market Management and Development, Ministry of Industry and Trade informed that in the first 5 months of the year, the Ministry of Industry and Trade has required gasoline traders to strictly implement the plan registered with the Ministry of Industry and Trade to ensure supply. In addition, the two oil producers are directed to proactively produce as well as seriously implement the issue of petroleum reserves.
At the same time, traders must also seriously and fully implement the total minimum petroleum source in 2025 that has been assigned and the plan to implement the total quarterly goods registered with the Ministry of Industry and Trade. Proactively carry out petroleum reserves according to regulations, ensuring adequate supply of petroleum to the market.
According to the report, the total national gasoline supply in the first 5 months of the year reached about 10.45 million tons, equivalent to about 12.54 million m3. Of which, imports account for about 38%. In the coming time, the Ministry of Industry and Trade will actively work with units to ensure supply, not to let there be a shortage of gasoline and oil for production as well as the consumption needs of the people" - Mr. Hoang Anh Duong informed.
Regarding the issue of gasoline price management as well as the use of the Petroleum Price Stabilization Fund, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan shared that the Ministry of Industry and Trade has submitted to the Government a draft Decree amending the Decrees on petroleum trading. When the Decree is approved by the Government, there will be many changes in the work of pricing as well as the use of the Stabilization Fund.
Domestic retail gasoline prices on June 20, 2025 will be applied according to the adjustment session from 3:00 p.m. on June 19 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on June 19, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 20,631/liter (up VND 1,169/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND 21,244/liter (up VND 1,277/liter).
Prices of oil products have also increased simultaneously. Of which, diesel 0.05S is priced at VND 19,156/liter (up VND 1,456/liter); kerosene has a new price of VND 18,923/liter (up VND 1,412/liter); mazut is priced at VND 17,643/kg (up VND 1,182/kg).
