Gasoline price today 05/08/2025: Continue to decrease

Oil prices today 08/05/2025: Oil prices fell slightly after recovering from a sharp sell-off earlier in the week as investors turned their attention to US-China trade talks later this week.

Gasoline price today May 8, 2025

Recorded on Oilprice at 4:30 a.m. on May 8, 2025 (Vietnam time), Brent oil price was at 61.60 USD/barrel, down 0.84% (equivalent to a decrease of 0.52 USD/barrel).

Brent oil price on the world market early morning of May 8, 2025 (Vietnam time)

Similarly, WTI oil price was at 58.69 USD/barrel, down 0.63% (equivalent to a decrease of 0.37 USD/barrel).

WTI oil price on the world market early morning of May 8, 2025 (Vietnam time)

The United States and China are expected to meet in Switzerland, in what could be the first step toward resolving a trade war that is disrupting the global economy , Reuters reported.

“Clearly hopes are high for the trade talks,” said Bjarne Schieldrop, chief commodities analyst at SEB.

Both benchmarks fell to four-year lows this week after OPEC+ decided to accelerate output increases, raising concerns about oversupply at a time when U.S. tariffs have added to demand concerns.

However, some US producers have signaled they will cut spending, warning that the country's oil output may have peaked, which is also contributing to the market's recovery, analysts said.

"It's also worth noting that OPEC's production increase over the weekend was fully priced in," said Saxo Bank analyst Ole Hansen.

However, Tamas Varga, an analyst at PVM, a brokerage and consulting firm, said volatility is expected to continue as OPEC+ supply increases faster than expected while U.S. policy remains unpredictable. In addition, he said, the conflict in the Middle East between Israel and the Houthis adds to the geopolitical risk premium.

U.S. government data on oil inventories is due at 10:30 a.m. ET (1430 GMT). Analysts polled by Reuters on average expected U.S. crude inventories to have fallen by 800,000 barrels last week.

Crude oil inventories fell by 4.5 million barrels in the week ended May 2, market sources said, citing data from the American Petroleum Institute on Tuesday.

Domestic gasoline prices today May 8, 2025

Domestic retail gasoline prices on May 8, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 5 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	19,154	-84
RON 95 gasoline	19,586	-52
Diesel	17,354	-165
Oil	17,564	-151
Fuel oil	16,198	-326

Specifically, the price of E5 RON 92 gasoline decreased by 84 VND/liter, down to 19,154 VND/liter; RON 95 gasoline decreased by 52 VND/liter, down to 19,586 VND/liter.

The price of 0.05S diesel decreased by VND165/liter, down to VND17,354/liter; kerosene decreased by VND151/liter, down to VND17,564/liter; the price of 180CST 3.5S mazut decreased by VND326/kg, down to VND16,198/kg.

Gasoline prices today May 8, 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 18 adjustment sessions, including 8 decrease sessions, 7 increase sessions and 3 opposite sessions.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-08052025-tiep-tuc-giam-386538.html