Accordingly, at 6:00 PM on May 20, WTI oil price was at 101.49 USD/barrel, down 2.89 USD/barrel, equivalent to a decrease of 2.77%. Brent oil was at 108.31 USD/barrel, down 3.79 USD/barrel, equivalent to a decrease of 3.38%.
In the trading session on Wednesday, oil prices continued to fall after US President Donald Trump once again affirmed that the war with Iran would end "very quickly", although investors remain cautious about the outcome of peace talks as supplies from the Middle East continue to be disrupted.
Previously, on May 18, US President Donald Trump posted on social media that he had postponed a military attack scheduled for Tuesday against Iran. Efforts to reach an agreement with Iran are still ongoing, although he also emphasized that the US is ready to resume the attacks if no agreement is reached.
According to the International Energy Agency (IEA), the conflict in the Middle East has almost paralyzed the Strait of Hormuz, creating disruption to the world's largest oil supply.
Iranian state media reported on Tuesday that Iran's new peace proposal to the US includes a request to end the conflict on all fronts in the region, including Lebanon, and a request for the US to withdraw forces from areas near Iran and compensate for damages caused by the conflict.
Meanwhile, the US imposed sanctions on an Iranian currency trading company and many "screen companies" suspected of supporting financial transactions for Iranian banks. Washington also blocked 19 ships accused of participating in transporting Iranian oil and petrochemicals abroad.
Domestically, the selling prices of popular consumer gasoline and oil items on the market on May 20 are as follows:
- E5RON92 gasoline: not higher than 23,134 VND/liter (down 656 VND/liter compared to the current maximum selling price), lower than RON95-III gasoline by 944 VND/liter;
- RON95-III gasoline: not higher than 24,078 VND/liter (down 276 VND/liter compared to the current maximum selling price);
- Diesel oil 0.05S: not higher than 27, 226 VND/liter (down 268 VND/liter compared to the current maximum selling price);
- 180CST 3.5S mazut oil: not higher than 20, 585 VND/kg (down 587 VND/kg compared to the current maximum selling price).
Thus, Vietnam's gasoline and oil prices are currently lower than those of countries sharing a common border. Gasoline and oil selling prices of neighboring Vietnam on May 14, 2026 are as follows:
- Regarding gasoline prices: Thailand: 35,896 VND/liter (Government subsidies); Cambodia: 33,798 VND/liter (Government subsidies); Laos: 40,096 VND/liter; China: 35,438 VND/liter (Government price control); Vietnam: 24,078 VND/liter.
- Regarding oil prices: Thailand: 33,778 VND/liter (Government subsidies); Cambodia: 34,126 VND/liter; Laos: 44,552 VND/liter; China: 32,306 VND/liter (Government price control); Vietnam: 27,226 VND/liter.
