Gasoline price today April 1: Soaring, reaching 5-week high

Amid the threat of tariffs on US goods and crude oil, world oil prices continued to skyrocket by nearly 2% overnight. With this trend, domestic gasoline prices may be adjusted up again next Thursday.

On the morning of April 1, closing at dawn today, both benchmark oil products increased to a 5-week high. Accordingly, Brent oil price increased by 1.11 USD, equivalent to 1.5%, to 74.74 USD/barrel - the highest level since February 24; WTI oil increased by 2.12 USD, equivalent to 3.1%, to 71.48 USD/barrel - the highest level since February 20.

Thus, the price difference between Brent and WTI (US) crude oil has narrowed to $3.02/barrel - the lowest level since July 2024. According to analysts, when the price difference between these two benchmark oil products falls below $4/barrel, US crude oil exports will be affected because the price of US WTI crude oil is less attractive than Brent.

Oil prices rise ahead of US official announcement on imposing tariffs on many countries (PHOTO: REUTERS)

Oil prices rose on concerns that supplies could fall if US President Donald Trump imposes more tariffs on Russia and attacks Iran. Trump said over the weekend he would impose secondary tariffs of 25 to 50 percent on buyers of Russian oil if he felt Russia was obstructing his efforts to end the conflict in Ukraine , Reuters reported. While the threat is unlikely to be implemented immediately, it could add to concerns about future supplies.

In another development, Reuters reported that US crude oil production fell 305,000 barrels per day to 13.15 million barrels per day, the lowest level in a year.

Domestically, given the increase in world prices, it is forecasted that domestic gasoline prices at the adjustment period on April 3 may continue to increase. The estimated increase is less than 500 VND/liter, in which the increase in gasoline prices is higher than the increase in oil prices. This forecast does not include the Gasoline Price Stabilization Fund./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-xang-dau-hom-nay-142025-vot-tang-cham-muc-cao-nhat-5-tuan-185250401082715175.htm

Source: https://baolongan.vn/gia-xang-dau-hom-nay-01-4-vot-tang-cham-muc-cao-nhat-5-tuan-a192699.html