Gasoline prices expected to fall after holidays

Tomorrow (May 5, 2025) is the time to regulate retail gasoline prices according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trading.

Giá xăng dầu dự báo quay đầu giảm sau nghỉ lễ

Domestic gasoline prices tomorrow (May 5, 2025) are expected to reverse and decrease after a session of increasing following world prices. Photo: TT

At 7:25 a.m. on May 4, WTI oil price was at 58.29 USD/barrel, US Brent oil price was at 61.29 USD/barrel, no change recorded compared to early this morning.

Previously, oil prices experienced a series of consecutive declines, due to poor economic data from the US and China, causing the market to worry that demand would slow down, especially as the OPEC+ meeting is approaching.

Additionally, US job growth slowed slightly in April, as nonfarm payrolls increased by 177,000 last month, down from a revised 185,000 in March.

"The market is now completely dependent on OPEC, even the tariff war is no longer an important issue," said energy expert Scott Shelton of United ICAP.

Earlier, Reuters reported that Saudi Arabia, the de facto leader of OPEC+, had told allies and industry experts that it did not want to support the oil market by cutting supply further. OPEC+ is cutting production by more than 5 million barrels per day.

Based on the developments in world oil prices, some oil and gas businesses believe that domestic gasoline prices at the May 5 adjustment period may be adjusted down following the trend of world oil prices.

Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices may decrease by about VND130 - 480/liter. Similarly, diesel prices may be adjusted down by VND180 - 380/liter.

In case the regulatory agency draws from the Stabilization Fund, gasoline prices may decrease less.

If forecasted, domestic RON 95 gasoline prices will reverse and decrease after being adjusted upward in the previous management period.

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 740 VND/liter, to 19,238 VND/liter; RON 95 gasoline increased by 782 VND/liter, to 19,638 VND/liter.

Similarly, the price of diesel 0.05S: Increased by 487 VND/liter, to 17,520 VND/liter; kerosene increased by 531 VND/liter, to 17,715 VND/liter; mazut 180CST 3.5S increased by 564 VND/kg, to 16,524 VND/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 fuel oil.

Since the beginning of 2025, domestic gasoline prices have undergone 14 adjustment sessions, including 9 decrease sessions, 7 increase sessions and 1 opposite session.

Duy Anh

Source: https://congthuong.vn/gia-xang-dau-du-bao-quay-dau-giam-sau-nghi-le-385976.html