Unexpectedly, a drastic change of direction and a drastic reduction in shock.

Gasoline and oil prices today, January 9, 2025: Oil prices fell by more than 1% due to a stronger US dollar and a sharp increase in US fuel inventories last week.

Gasoline and diesel prices today, January 9, 2025

According to Oilprice at 4:30 AM on January 9, 2025 (Vietnam time), WTI crude oil was priced at $73.33 per barrel, down 1.23% (equivalent to a decrease of $0.91 per barrel).

WTI oil prices on the world market early morning of January 9, 2025 (Vietnam time)

Similarly, Brent crude oil prices stood at $76.2 per barrel, down 1.1% (equivalent to a decrease of $0.85 per barrel).

Brent crude oil prices on the world market early morning of January 9, 2025 (Vietnam time)

Oil prices fell more than 1% as a stronger dollar and a sharp increase in US fuel inventories last week put pressure on prices, reversing earlier gains driven by tighter supply from Russia and other OPEC members.

Brent crude fell 89 cents, or 1.16%, to $76.23 a barrel. US West Texas Intermediate crude fell 93 cents, or 1.25%, to $73.32.

Both benchmark prices rose by more than 1% at the start of the session.

"The oil market is being weighed down by the significant increase in gasoline and diesel inventories that we've seen over the past few weeks," said Andrew Lipow, president of Lipow Oil Associates. Fuel inventories are rising as refineries continue to ramp up production, he added.

According to data released Wednesday by the U.S. Energy Information Agency, gasoline inventories rose by 6.3 million barrels last week to 237.7 million barrels, compared with analysts' expectations in a Reuters poll of a 1.5 million barrel increase.

Inventories of distilled products rose by 6.1 million barrels this week to 128.9 million barrels, compared with expectations of a 600,000 barrel increase.

Josh Young, investment director at Bison Interests, said: "I would be concerned if we see a significant amount of product being produced in the next few weeks. Meanwhile, the cold snap could limit crude oil supply and increase heating oil demand."

Crude oil inventories fell by 959,000 barrels to 414.6 million barrels this week, compared with analysts' expectations of a 184,000 barrel decrease. A stronger US dollar also put pressure on oil prices by making oil more expensive for holders of other currencies.

To limit losses, oil production from the Organization of Petroleum Exporting Countries (OPEC) fell in December after two months of increases, as oil field maintenance in the United Arab Emirates offset production gains in Nigeria and elsewhere in the group.

In Russia, average oil production reached 8.971 million barrels per day in December, falling short of the country's target, Bloomberg reported, citing sources from the Ministry of Energy. Analysts predict average oil prices will fall this year and into 2024, partly due to increased production from non-OPEC countries.

BMI, a division of Fitch Group, said in a note to clients: "We are maintaining our forecast for Brent crude oil prices at an average of $76 per barrel in 2025, down from an average of $80 per barrel in 2024."

Domestic retail gasoline and diesel prices on January 9, 2025, are applied according to the adjustment made at 3 PM on January 2 by the Joint Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference compared to the previous period
E5 RON 92 gasoline	20,057	+240
RON 95 gasoline	20,746	+199
Diesel	18,755	+125
Oil	18,834	+126
Fuel oil	16,099	+129

Specifically, the price of E5 RON 92 gasoline increased by 240 VND/liter, reaching 20,057 VND/liter; RON 95 gasoline increased by 199 VND/liter, reaching 20,746 VND/liter.

Diesel fuel 0.05S increased by 125 VND/liter, reaching 18,755 VND/liter; kerosene increased by 126 VND/liter, reaching 18,834 VND/liter; mazut 180CST 3.5S increased by 129 VND/kg, reaching 16,099 VND/kg.

Gasoline and diesel prices today, January 9, 2025. Photo: Dinh Tuan

During this price adjustment period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-09012025-bat-ngo-quay-xe-giam-soc-368645.html