Gasoline price today 06/05/2025: Oil price remains stable

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Oil prices today June 5, 2025: Oil prices were almost unchanged as global trade tensions continued to escalate and increased output from OPEC+ was partially offset by a drop in supply from Canada due to wildfires.

Gasoline price today June 5, 2025

Recorded on Oilprice at 4:30 a.m. on June 5, 2025 (Vietnam time), Brent oil price was at 65.40 USD/barrel, down 0.29% (equivalent to a decrease of 0.19 USD/barrel).

Brent oil price on the world market early morning June 5, 2025 (Vietnam time)

In contrast, WTI oil price was at 63.48 USD/barrel, up 0.14% (equivalent to an increase of 0.09 USD/barrel).

WTI oil price on the world market early morning June 5, 2025 (Vietnam time)

OPEC+ plans to increase production by 411,000 barrels per day in July are weighing on the market, according to Janiv Shah, vice president of oil commodity analysis at Rystad Energy. However, oil prices have received support from wildfires in Canada, which have cut production by about 344,000 barrels per day, according to Reuters estimates.

Both major oil benchmarks rose about 2% on Tuesday, hitting their highest in two weeks, on concerns about supply disruptions and expectations that OPEC member Iran would reject a nuclear deal proposal from the United States that would be key to lifting sanctions on the country.

Meanwhile, Russia has just announced a 35% decline in oil and gas revenues in May. This may make Moscow more cautious about further production increases within the framework of OPEC+, as such moves could put pressure on oil prices.

Saudi Arabia and Russia reached a compromise over the weekend regarding plans to increase production in July, Reuters reported, with Riyadh wanting to increase further, while Moscow called for a pause.

US President Donald Trump and Chinese President Xi Jinping are expected to speak by phone this week, just days after Mr Trump accused China of violating an agreement to remove tariffs and trade restrictions.

Also on Tuesday, the Organization for Economic Cooperation and Development (OECD) lowered its global growth forecast, as Mr Trump's trade policies are taking a greater toll on the US economy, which could in turn affect oil demand.

“Overall, we see limited upside potential for oil prices amid concerns about oversupply and weakening demand growth,” Saxo Bank analyst Ole Hansen said in a note.

The market is now awaiting the U.S. Energy Information Administration (EIA) oil inventory data due later in the day. A Reuters survey estimated crude inventories fell by about 1 million barrels in the week ended May 30, while distillate and gasoline inventories rose by 1 million barrels and 600,000 barrels per day, respectively.

Data from the American Petroleum Institute (API) released on Tuesday showed that crude oil inventories fell by 3.3 million barrels in the same period, while fuel inventories rose, according to Reuters.

Domestic gasoline prices today June 5, 2025

Domestic retail gasoline prices on June 5, 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.

Gasoline prices today June 5, 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.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-05062025-gia-dau-giu-on-dinh-390884.html