Gasoline price today 05/02/2025: Signs of recovery

Oil prices today 02/05/2025: Oil prices recovered after strong earnings from Meta and Microsoft supported US stocks and offset concerns about the US economy and the prospect of OPEC+ increasing oil production.

Gasoline price today 05/02/2025

Recorded on Oilprice at 4:30 a.m. on May 2, 2025 (Vietnam time), Brent oil price was at 60.81 USD/barrel, down 0.34% (equivalent to a decrease of 0.21 USD/barrel).

Brent oil price on the world market early morning of May 2, 2025 (Vietnam time)

Similarly, WTI oil price was at 57.95 USD/barrel, down 0.19% (equivalent to a decrease of 0.11 USD/barrel).

WTI oil price on the world market early morning of May 2, 2025 (Vietnam time)

"Oil's rally could be due to a surge in equities on attractive earnings from Microsoft (MSFT.O), Meta (META.O) and possibly the postponement of the next round of US-Iran nuclear talks," said Tamas Varga of oil brokerage PVM.

Concerns about rising supplies have weighed on prices, with sources telling Reuters that Saudi Arabia is telling allies and industry experts that it is unwilling to support the oil market by cutting supply and can handle a prolonged period of low prices.

Three people familiar with the OPEC+ talks said some OPEC+ members will propose the group accelerate its output increase in June for a second straight month. The eight OPEC+ countries will meet on May 5 to decide on their June production plan.

Meanwhile, data released on Wednesday showed the U.S. economy shrank for the first time in three years in the first quarter, weighed down by a surge in imports as businesses raced to avoid higher costs from tariffs and highlighting the disruptive impact of President Donald Trump's unpredictable trade policies.

Domestic gasoline prices today May 2, 2025

Domestic retail gasoline prices on May 2, 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.

Gasoline prices today May 2, 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.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-02052025-co-dau-hieu-phuc-hoi-385740.html