According to a survey at 9h17 on April 16 (Vietnam time), WTI oil price fell 0.05 USD/barrel (down 0.08%), to 61.28 USD/barrel. Brent oil prices fell 0.27 USD/barrel (down 0.42%), to 64.62 USD/barrel.
The International Energy Agency said on Tuesday that global oil demand is expected to increase at the latest rate in 5 years. This year's world oil demand is expected to increase by 730,000 barrels/day, IEA said, sharply decreased compared to 1.03 million barrels/day expected last month. This reduction is greater than the reduction of oil exporters issued on Monday.
Tetsu Emori - CEO of Emori Fund Management, said: "As IEA has emphasized, the growth demand may remain modest and the imbalance between the global crude supply and demand of crude oil is putting pressure on the market."
"If the stock market - is currently under pressure from the tariff - recovery, we can witness the increase in oil prices, pushing WTI oil price to over 65 USD. But without that support, the price may still be low at $ 60," he said.
Forecasting domestic gasoline price, Mr. Doan Tien Quyet - VPI data analyst said that the retail price of E5 RON 92 petrol could reduce VND 661 (3.5%) to VND 18,219/liter.RON 95-III gasoline can be reduced by VND 595 (3.1%) to VND 18,605/liter.
The model of VPI forecasts that the retail oil price is also in the same trend, specifically diesel oil can be reduced by 2% to VND 16,899/liter, kerosene can decrease by 2.4% to VND 16,992/liter, while mazut oil can only decrease slightly by 0.7% to VND 15,787/kg.
VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to dedicate or spend on the petrol price stabilization fund.
Domestic petroleum retail price on April 16, 2025 was applied according to the adjustment session from 15:00 on April 10 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on 10.4, E5 RON 92 gasoline price decreased compared to the previous adjustment period, priced at VND 18,882/liter (down VND 1,491/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, priced at 19,207 VND/liter (down 1,712 dong/liter).
The price of oil products also decreased simultaneously. In particular, the 0.05S diesel oil costs 17,243 VND/liter (down 1,235 VND/liter); Galat oil has a new price of VND 17,413/liter (down VND 1,322/liter); Mazut oil costs 15,902 VND/kg (down 1,124 VND/kg).
