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Prices will drop after the Lunar New Year holiday.

Báo Công thươngBáo Công thương01/02/2025

Today's fuel prices (February 2nd, 2025): In the first price adjustment of the Lunar Year of the Snake 2025, domestic gasoline and diesel prices simultaneously decreased.


Gasoline and diesel prices today, February 2nd, 2025

According to Oilprice at 4:30 AM on February 2, 2025 (Vietnam time), WTI crude oil was priced at $73.81 per barrel, down 0.27% (equivalent to a decrease of $0.20 per barrel).

Giá xăng dầu hôm nay 02/02/2025:
WTI oil prices on the world market early morning of February 2, 2025 (Vietnam time)

Similarly, Brent crude oil prices stood at $76.5 per barrel, down 0.29% (equivalent to a decrease of $0.22 per barrel).

Giá xăng dầu hôm nay 02/02/2025:
Brent crude oil prices on the world market early morning of February 2, 2025 (Vietnam time)

Last week, Brent and WTI oil prices fell by 2.1% and 2.9% respectively, marking the second consecutive week of declines. Against this backdrop, US President Donald Trump plans to announce a process for Canada and Mexico to apply for tariff exemptions on certain imported goods, effective March 1st. However, the White House insists the February 1st deadline remains unchanged, and there has been no update on the exemptions.

Dennis Kissler, vice president of BOK Financial, said crude oil prices remain volatile as traders monitor the impact of Trump's tariff threats. Canadian crude oil, a key feedstock for US refineries, could drive up fuel prices if supply is cut. Canada and Mexico are the two largest oil exporters to the US, but it is unclear whether their crude oil will be included in the tariff list. Trump will decide soon on exemptions for imported oil.

Energy Aspects analyst Livia Gallarati warned that tariffs could severely impact US oil refining operations. Meanwhile, Canadian Prime Minister Justin Trudeau stated he would respond strongly if the US imposed tariffs, while also warning citizens about potential difficulties.

Also this week, the market is focusing on the OPEC+ meeting scheduled for February 3rd, with expectations that OPEC+ will stick to its plan of gradually increasing production, despite pressure from Mr. Trump. At the same time, the number of US oil rigs has increased by 7, to 479, suggesting the possibility of continued oil production increases in the near future.

Domestic retail gasoline and diesel prices on February 2nd, 2025, will be applied according to the adjustment made at 3 PM on February 1st by the Joint Ministry of Finance and Ministry of Industry and Trade.

Item

Price (VND/liter/kg)

Difference compared to the previous period

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E5 RON 92 gasoline

21,000

-140

RON 95 gasoline

20,390

-200

Diesel

19,240

-950

Oil

19,430

-608

Fuel oil

17,500

-250

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Specifically, the price of RON 95-III gasoline (the most common type on the market) decreased by 140 VND, to 21,000 VND per liter. E5 RON 92 also decreased by 200 VND, to 20,390 VND. Similarly, the prices of other petroleum products decreased by 250-950 VND per liter or kilogram. Compared to 7 days ago, diesel decreased by 950 VND, to 19,240 VND. Kerosene and mazut now cost 19,430 VND and 17,500 VND respectively.

Giá xăng dầu hôm nay 02/02/2025
Gasoline and diesel prices today, February 2nd, 2025. Photo: Dinh Tuan

According to information from the Ministry of Industry and Trade, the global oil market during this price adjustment period (from January 23, 2025 to January 31, 2025) will be affected by factors such as: increased US crude oil reserves, tax policies introduced by the US President against some countries, the upcoming OPEC+ meeting on plans to increase supply, and the ongoing military conflict between Russia and Ukraine…

The factors mentioned above have caused world oil prices to fluctuate in recent days, with some products rising and others falling, but the overall trend is downward.

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.

Thus, from the beginning of 2025 until now, domestic gasoline prices have undergone 5 adjustments, including 1 decrease, 3 increases, and 1 change.



Source: https://congthuong.vn/gia-xang-dau-hom-nay-02022025-cung-giam-sau-ky-nghi-tet-371868.html

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