Oil prices today June 1, 2025: World oil prices fell, heading for the second consecutive week of decline, as investors assessed the possibility that OPEC+ would increase production more aggressively in July, while concerns spread about US tariff policies.
Gasoline price today June 1, 2025
Recorded on Oilprice at 4:30 a.m. on June 1, 2025 (Vietnam time), Brent oil price was at 62.61 USD/barrel, down 0.90% (equivalent to a decrease of 0.57 USD/barrel).
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| Brent oil price on the world market early morning June 1, 2025 (Vietnam time) |
Similarly, WTI oil price was at 60.79 USD/barrel, down 0.25% (equivalent to a decrease of 0.15 USD/barrel).
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| WTI oil price on the world market early morning June 1, 2025 (Vietnam time) |
For the week, both Brent and WTI benchmarks fell more than 1%, marking their second consecutive weekly decline.
Analysts said that the news that eight members of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) may increase production in July, which was decided at a meeting yesterday (May 31), is supporting the cooling of oil prices.
According to Reuters, analysts from JPMorgan Bank expect world oil prices to remain within the current range before falling sharply to $50/barrel by the end of this year.
On the supply side, some OPEC+ members are likely to agree to increase oil production by 411,000 barrels per day in July at a private meeting on May 31. ING analysts expect OPEC+ to maintain this increase until the end of the third quarter of this year, when the group will focus more on protecting market share.
The decline was in stark contrast to analysts' expectations for a 118,000-barrel increase. Gasoline inventories fell 2.4 million barrels to 223.1 million barrels, while distillate inventories fell 724,000 barrels to 103.4 million barrels.
Domestic gasoline prices today June 1, 2025
Domestic retail gasoline prices on June 1, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 29 by the Ministry of Finance - Ministry of Industry and Trade.
| Item | Price (VND/liter/kg) | Difference from previous period |
| E5 RON 92 gasoline | 19,196 | +74 |
| RON 95 gasoline | 19,565 | +33 |
| Diesel | 17,136 | -269 |
| Oil | 17,108 | -206 |
| Fuel oil | 16,264 | -248 |
Specifically, the price of E5 RON 92 gasoline increased by 74 VND/liter, to 19,196 VND/liter; RON 95 gasoline increased by 33 VND/liter, to 19,565 VND/liter.
Price of diesel 0.05S: Decreased by 269 VND/liter, down to 17,136 VND/liter; kerosene decreased by 206 VND/liter, down to 17,108 VND/liter; fuel oil 180CST 3.5S decreased by 248 VND/kg, down to 16,264 VND/kg.
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| Gasoline prices today June 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 22 adjustment sessions, including 9 decrease sessions, 8 increase sessions and 5 opposite sessions.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-01062025-do-san-phien-cuoi-tuan-390260.html
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