Gasoline prices today January 3, 2025: All increased

Oil prices today 03/01/2025: Oil prices rose more than $1 a barrel as investors returned on the first trading day of 2025.

Gasoline price today January 3, 2025

Recorded on Oilprice at 5:00 a.m. on January 3, 2025 (Vietnam time), WTI oil price was at 73.14 USD/barrel, up 1.95% (equivalent to an increase of 1.40 USD/barrel).

WTI oil price on the world market early morning January 3, 2025 (Vietnam time)

Similarly, Brent oil price was at 75.9 USD/barrel, up 1.66% (equivalent to an increase of 1.24 USD/barrel).

Brent oil price on the world market early morning January 3, 2025 (Vietnam time)

Oil prices rose more than $1 a barrel as investors returned to the first trading day of 2025 with an upbeat view of China’s economy and fuel demand following President Xi Jinping’s pledge to boost growth. Rising gasoline and distillate inventories in the United States weighed on prices and capped gains.

In his New Year's speech on Tuesday, Mr. Xi said China would implement more proactive policies to boost growth by 2025.

China’s manufacturing activity grew more slowly than expected in December, a Caixin/S&P Global survey showed on Thursday, amid concerns about tariffs proposed by U.S. President-elect Donald Trump. Some analysts see the weaker Chinese data as positive for oil prices as Beijing may be encouraged to accelerate stimulus measures.

An official survey released on Tuesday showed China's manufacturing activity barely grew in December. Services and construction fared better, with data suggesting stimulus is spreading to some sectors.

Data on U.S. oil inventories from the Energy Information Administration released on Thursday, a day later than usual due to the New Year's holiday, showed gasoline and distillate stocks jumped last week.

U.S. gasoline inventories (USOILG=ECI) rose 7.7 million barrels in the week to 231.4 million barrels. Distillate inventories (USOILD=ECI), which include diesel and heating oil, rose 6.4 million barrels in the week to 122.9 million barrels.

"The negative part of this release is the large inventory," said Jim Ritterbusch of Ritterbusch and Associates in Florida, which he said was due to an unexpected drop in demand.

Crude inventories fell less than expected, down 1.2 million barrels to 415.6 million barrels last week compared with analysts' expectations in a Reuters poll for a drop of 2.8 million barrels.

Traders starting the new year may also be weighing higher geopolitical risks and Trump's efforts to boost the US economy against the expected impact from proposed tariffs, said IG market analyst Tony Sycamore.

“The US ISM manufacturing report tomorrow will be crucial for the next move in crude oil prices,” Sycamore said. Sycamore also said the weekly chart of WTI is narrowing, suggesting a big move is coming. “Instead of trying to predict how the crash will happen, we should wait for it to happen and then act,” he added.

Oil prices are likely to be capped at near $70 a barrel in 2025, falling for a third year after a 3% decline in 2024, with weak Chinese demand and rising global supplies offsetting OPEC+ efforts to shore up the market, a Reuters poll showed.

In Europe, Russia stopped gas exports via Ukrainian pipelines on New Year's Day after a transit agreement expired on December 31. The European Union has arranged alternative supplies ahead of the widely anticipated transit halt while Hungary will continue to receive Russian gas via the TurkStream pipeline under the Black Sea.

Domestic retail gasoline prices on January 3, 2025 will be applied according to the adjustment session from 3:00 p.m. on January 2 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	20,057	+240
RON 95 gasoline	20,746	+199
Diesel	18,755	+125
Oil	18,834	+126
Fuel oil	16,099	+129

Specifically, the price of E5 RON 92 gasoline increased by VND240/liter, to VND20,057/liter; RON 95 gasoline increased by VND199/liter, to VND20,746/liter.

Diesel 0.05S price: Up 125 VND/liter, at 18,755 VND/liter; kerosene up 126 VND/liter, at 18,834 VND/liter; fuel oil 180CST 3.5S up 129 VND/kg, at 16,099 VND/kg.

Gasoline prices today January 3, 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, this is the first gasoline price adjustment session this year.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-03012025-dong-loat-tang-367638.html