Oil prices today 01/05/2025: Oil prices continued to fall and are on track to record their biggest monthly decline in nearly three and a half years, as the outlook for fuel demand weakened and concerns about growing supply also put pressure.
Gasoline price today May 1, 2025
Recorded on Oilprice at 4:30 a.m. on May 1, 2025 (Vietnam time), Brent oil price was at 63.50 USD/barrel, down 1.20% (equivalent to a decrease of 0.77 USD/barrel).
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| Brent oil price on the world market early morning of May 1, 2025 (Vietnam time) |
Similarly, WTI oil price was at 60.07 USD/barrel, down 0.60% (equivalent to a decrease of 0.36 USD/barrel).
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| WTI oil price on the world market early morning of May 1, 2025 (Vietnam time) |
Since the start of April, Brent and WTI have lost about 15% and 16%, respectively, marking their biggest percentage declines since November 2021. Both benchmarks plunged after US President Donald Trump announced tariffs on all US imports on April 2.
Data on Wednesday showed the US economy contracted in the first quarter, hurt by a surge in imports by businesses seeking to avoid higher costs.
Sources told Reuters last week that some OPEC+ members will propose increasing output for a second straight month in June. The group will meet on May 5 to discuss output plans.
“There is a very real possibility that OPEC+ will continue to put more barrels on the market as the group tries to maintain internal order, compounded by diplomatic tensions in Ukraine and Iran, if successful,” PVM analysts said.
Also sending a negative signal on the supply side, market sources said, citing data from the American Petroleum Institute, that U.S. crude inventories rose by 3.8 million barrels last week. Analysts polled by Reuters had expected U.S. crude inventories to rise by 400,000 barrels last week.
Domestic gasoline prices today May 1, 2025
Domestic retail gasoline prices on May 1, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 24 by the Ministry of Finance - Ministry of Industry and Trade.
| Item | Price (VND/liter/kg) | Difference from previous period |
| E5 RON 92 gasoline | 19,238 | +740 |
| RON 95 gasoline | 19,638 | +782 |
| Diesel | 17,520 | +487 |
| Oil | 17,715 | +531 |
| Fuel oil | 16,524 | +564 |
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 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.
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| Gasoline prices today May 1, 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, from the beginning of 2025 to now, domestic gasoline prices have undergone 17 adjustment sessions, including 7 decrease sessions, 7 increase sessions and 3 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-01052025-thap-nhat-ke-tu-nam-2021-385653.html
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