According to a survey at 7:05 a.m. on June 5 (Vietnam time), WTI oil prices decreased by 0.19 USD/barrel (down 0.3%), down to 62.66 USD/barrel. Brent oil price decreased by 0.06 USD/barrel (down 0.09%), down to 64.77 USD/barrel.
According to UBS analyst Giovanni Staunovo, the recent report was quite negative, mainly due to a significant increase in refined oil products.
He explained that demand for crude oil refining has increased sharply, leading to a decline in crude oil inventories. However, after the Memorial Day holiday, supply tends to increase while actual demand is not commensurate, leading to a sudden increase in inventory of refined products.
In addition, OPEC+'s plan to increase production by 411,000 barrels per day from July is also putting pressure on investors in the market.
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 simultaneously.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 110 VND/liter; E5 RON 92 - II gasoline increases by about 40 VND/liter; Diesel increases by about 240 VND/liter.
According to the forecast, the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Domestic retail gasoline prices on June 5, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 29 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session last week (May 29), the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND19196/liter (up VND74/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND19,565/liter (up VND33/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND17,136/liter (down VND269/liter); kerosene has a new price of VND17,108/liter (down VND206/liter); mazut is priced at VND16,264/kg (down VND248/kg).
