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).
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| 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).
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| 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 You may also like  Falling oil prices are creating an advantage for economies in Africa that import 'black gold'.The sharp drop in global oil prices is changing investor sentiment in the African government bond market, with Kenya and the Democratic Republic of Congo emerging as two of the most active issuers of international bonds (Eurobonds).  Many air quality indicators improved after one month of using biofuels.According to a report by the Ministry of Industry and Trade, after nearly a month of nationwide implementation of biofuels, many air pollution indicators in Hanoi and Ho Chi Minh City have decreased significantly. In addition, biofuel consumption reached over 1 billion liters in June, and the supply remains stable.  Nearly 111,700 new businesses were established nationwide in the first six months of the year.In the first six months of the year, nearly 111,700 new businesses were registered nationwide, a 22.5% increase in number, reflecting the recovery of the economy. |
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  Strengthening the friendship between Vietnam and the United States.On July 3rd, as part of the Pacific Partnership - Friends of the Pacific 2026 program, the U.S. Army Pacific delegation, led by Lieutenant General Joel Vowell, Deputy Commander of the U.S. Army Pacific, paid a courtesy visit to the Quang Tri Provincial Military Command.  The U.S. Army Pacific delegation visits the Quang Tri Provincial Military Command.2026 marks the first time the Pacific Partnership-Friends of the Pacific program will be jointly organized in Quang Tri, creating a large-scale cooperation framework with 25 activities.  The Ministry of Foreign Affairs received a copy of the Letter of Credence for the U.S. Ambassador to Vietnam.On the afternoon of July 2nd, at the Ministry of Foreign Affairs headquarters, Mr. Le Cong Dung, Director of the State Protocol and Foreign Interpretation Department, received a copy of the Letter of Credence from Ms. Jennifer Wicks, Ambassador of the United States of America to Vietnam. |
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.
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| 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
