Hit bottom in nearly 4 years

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During the adjustment period on March 13, gasoline prices continued to decrease. Since the beginning of the year, RON 95 gasoline has increased 5 times and decreased 6 times.

Gasoline price today March 14, 2025

Recorded on Oilprice at 4:00 a.m. on March 14, 2025 (Vietnam time), WTI oil price was at 66.71 USD/barrel, down 1.43% (equivalent to a decrease of 0.97 USD/barrel).

WTI oil price on the world market in the early morning of March 14, 2025 (Vietnam time)

Similarly, Brent oil price was at 70.07 USD/barrel, down 1.27% (equivalent to a decrease of 0.90 USD/barrel).

Brent oil price on the world market early morning March 14, 2025 (Vietnam time)

Oil prices fell as the market weighed macroeconomic concerns, including the risk that a tariff war between the United States and other countries could hurt global demand.

Brent crude futures fell 54 cents, or 0.8%, to $70.41 a barrel at 11:28 a.m. ET (1525 GMT). U.S. West Texas Intermediate crude futures fell 63 cents, or 0.9%, to $67.05 a barrel.

The International Energy Agency reported that global oil supply could exceed demand by about 600,000 barrels per day this year, with supply growth led by the United States, and global demand is now expected to grow by just 1.03 million barrels per day, down from last month's forecast of 70,000 barrels per day. Demand growth will be driven largely by Asia, particularly China, the IEA said.

The report cited deteriorating macroeconomic conditions, including escalating trade tensions.

US President Donald Trump on Wednesday threatened to escalate the global trade war by imposing more tariffs on European Union goods, while major US trading partners vowed to retaliate against trade barriers Trump has erected.

Trade tensions have shaken investor, consumer and business confidence. Coupled with deep cuts in government spending, the labor market has been shaken, with some fearing a recession in the United States.

“I think (the tariffs) will certainly impact the market’s perception of (oil) demand growth in 2025 and the expectation is that tariffs and retaliatory tariffs will eventually impact consumers,” said Andrew Lipow, president of Houston-based Lipow Oil Associates.

Also on Thursday, Russian President Vladimir Putin said Moscow agreed with a US proposal to stop fighting but any ceasefire must lead to lasting peace and address the root causes of the conflict.

The market is weighing the possibility of a short-term ceasefire between Russia and Ukraine, although UBS analyst Giovanni Staunovo said Thursday he “remains skeptical” that such an outcome would lead to more Russian oil.

With the US president's commitment to cheaper oil, Citi analysts said their outlook for Brent crude prices in the second half of 2025 is $60 a barrel.

Kazakhstan led a significant increase in OPEC+ crude oil output in February, the Organization of the Petroleum Exporting Countries said on Wednesday, as the producer group seeks to enforce compliance with agreed output targets even as it looks to ease production cuts.

Concerns about falling jet fuel demand continued to weigh on the market, as JP Morgan analysts said US Transportation Security Administration data showed passenger traffic fell 5% year-on-year in March, following a slowdown in February.

However, JP Morgan analysts added: "As of March 11, global oil demand averaged 102.2 million barrels per day, up 1.7 million barrels per day year-on-year and exceeding our forecast for the month of 60,000 barrels per day."

Domestic retail gasoline prices on March 14, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 13 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,281	-680
RON 95 gasoline	19,649	-753
Diesel	17,898	-435
Oil	18,090	-483
Fuel oil	16,995	-155

Specifically, the price of E5 RON 92 gasoline decreased by VND680/liter, down to VND19,281/liter; RON 95 gasoline decreased by VND753/liter, down to VND19,649/liter.

The price of diesel 0.05S decreased by VND435/liter, down to VND17,898/liter; kerosene decreased by VND483/liter, down to VND18,090/liter; the price of mazut 180CST 3.5S decreased by VND155/kg, down to VND16,995/kg.

Gasoline prices today March 14, 2025. Photo by Dinh Tuan

In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Thus, since the beginning of 2025, domestic gasoline prices have undergone 11 adjustment sessions, including 5 decrease sessions, 4 increase sessions and 2 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-14032025-cham-day-gan-4-nam-378173.html