According to a survey at 9:05 a.m. on January 1 (Vietnam time), WTI oil price increased by 0.05 USD/barrel (up 0.09%), to 58.26 USD/barrel. Brent oil price increased by 0.07 USD/barrel (up 0.11%), to 61.13 USD/barrel.
Saudi Arabian officials have informed industry allies and experts that the kingdom has no plans to cut oil supplies further to support the market. They said they could endure a prolonged period of low oil prices.
Several OPEC+ members are expected to propose accelerating oil production in June, marking the second consecutive month of this, according to three sources close to OPEC+ negotiations.
According to the Energy Information Administration, US crude oil reserves unexpectedly fell by 2.7 million barrels last week due to increased export and refining demand.
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, retail prices of gasoline may increase.
In particular, RON 95 gasoline price may increase by about 100-250 VND/liter; E5 gasoline may increase by about 200 VND/liter; Diesel oil increases by about 100 VND/liter.
According to Decree 80, the time for regulating gasoline prices will fall on Thursdays every week. However, the decree also clearly states that in case Thursday coincides with the first day of the holiday, the time for regulating gasoline prices will be implemented on the previous Wednesday.
If Thursday coincides with other holidays, the time for regulating gasoline prices will be implemented on the first working day after the holiday.
Therefore, the management of gasoline prices will be carried out on Monday, May 5 (ie the first working day after the holiday) because Thursday (May 1) is the International Labor Day holiday (ie the second day off of the holiday on September 30-1).
Domestic retail gasoline prices on May 1, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 24 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on April 24, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, priced at VND 19,238/liter (up VND 740/liter). RON 95-III gasoline price increased compared to the previous adjustment period, at VND19,638/liter (up VND782/liter).
Prices of oil products increased simultaneously. Of which, diesel 0.05S is priced at VND17,524/liter (up VND487/liter); kerosene has a new price of VND17,71/liter (up VND531/liter); mazut is priced at VND16,524/kg (up VND564/kg).
