Gasoline prices fall across the board

The Ministry of Industry and Trade - Ministry of Finance has just adjusted the retail price of gasoline and oil in the adjustment period today (May 5). The application time is from 3:00 p.m. on May 5, 2025.

Today's gasoline prices, from 3:00 p.m. on May 5, 2025, E5 RON 92 gasoline decreased by 84 VND/liter, RON 95 gasoline decreased by 52 VND/liter; oil prices also decreased sharply. Photo: TT

Specifically, the price of E5 RON 92 gasoline decreased by 84 VND/liter, down to 19,154 VND/liter; RON 95 gasoline decreased by 52 VND/liter, down to 19,586 VND/liter.

The price of 0.05S diesel decreased by VND165/liter, down to VND17,564/liter; kerosene decreased by VND151/liter, down to VND17,184/liter; the price of 180CST 3.5S mazut decreased by VND326/kg, down to VND16,198/kg.

In this operating 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.

According to the Ministry of Industry and Trade, the average price of finished petroleum products in the world between the price adjustment period on April 24, 2025 and the adjustment period on May 5, 2025 is: 75.245 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 0.730 USD/barrel, equivalent to a decrease of 0.96%); 76.848 USD/barrel of RON95 gasoline (down 0.525 USD/barrel, equivalent to a decrease of 0.68%); 80.148 USD/barrel of kerosene (down 1.115 USD/barrel, equivalent to a decrease of 1.37%); 79.720 USD/barrel of 0.05S diesel oil (down 1.183 USD/barrel, equivalent to a decrease of 1.46%); 427,630 USD/ton of 180CST 3.5S fuel oil (down 12,775 USD/ton, equivalent to a decrease of 2.90%).

On the world market, at 6:00 a.m. this morning, WTI oil price was at 56.15 USD/barrel, down 2.14 USD/barrel, US Brent oil price was at 59.21 USD/barrel, down 2.08 USD/barrel.

The decline in oil prices was impacted by concerns about falling fuel demand, in the context of the world economy being affected by the US-China trade war...

The possibility of OPEC+ extending its production increase into June; signals from Saudi Arabia, one of the world’s largest oil producers, that Riyadh will continue to ease production cuts and is prepared to cope with low oil prices for an extended period.

According to Reuters calculations, the increase in production in June by the eight OPEC+ members will bring the total increase in the three months since April to 960,000 barrels/day, corresponding to a 44% relaxation of the voluntary cut of 2.2 million barrels/day.

This week, the US Federal Reserve (Fed) will meet to make a decision on monetary policy, which could impact oil prices.

Previously, in the April 24 adjustment period of the Ministry of Industry and Trade - Ministry of Finance, gasoline prices were adjusted up. Specifically, the price of E5 RON 92 gasoline increased by VND740/liter, to VND19,238/liter; RON 95 gasoline increased by VND782/liter, to VND19,638/liter.

Similarly, the price of diesel 0.05S increased by VND487/liter, to VND17,520/liter; kerosene increased by VND531/liter, to VND17,715/liter; and fuel oil 180CST 3.5S increased by VND564/kg, to VND16,524/kg.

Since the beginning of 2025, domestic gasoline prices have undergone 18 adjustment sessions, including 10 decreases, 7 increases and 1 opposite session.

Vietnamese English

Source: https://congthuong.vn/gia-xang-dau-dong-loat-quay-dau-giam-386092.html