Gasoline price today 05/09/2025: Increased

Oil prices today May 9, 2025: Oil prices rose more than 2%, supported by hopes of a breakthrough in upcoming trade talks between the United States and China - the world's two largest oil consumers.

Gasoline price today 05/09/2025

Recorded on Oilprice at 4:30 a.m. on May 9, 2025 (Vietnam time), Brent oil price was at 62.90 USD/barrel, up 2.93% (equivalent to an increase of 1.79 USD/barrel).

Brent oil price on the world market early morning of May 9, 2025 (Vietnam time)

Similarly, WTI oil price was at 59.95 USD/barrel, up 3.17% (equivalent to an increase of 1.84 USD/barrel).

WTI oil price on the world market early morning of May 9, 2025 (Vietnam time)

According to Reuters, US Treasury Secretary Scott Bessent is expected to meet China's top economic official on May 10 in Switzerland to negotiate the trade war that is disrupting the global economy.

"The optimism surrounding this negotiation is adding to the market's momentum," said analyst Ole Hvalbye from SEB.

The two countries are the world’s two largest economies and the impact of their trade conflict is likely to slow global demand growth for crude. However, analysts also warn that the volatility in the oil market caused by recent tax policies is not over yet.

"The global risk that has driven oil prices so much in the past few years has now been replaced by 'tariff premiums' and this will also fluctuate with the latest headlines from the Trump administration," Jim Ritterbusch of US energy consultancy Ritterbusch and Associates said in a note.

In other trade developments, President Donald Trump announced a US-UK trade deal that includes the creation of an aluminium and steel trading zone and securing pharmaceutical supply chains.

On the supply side, the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, will increase oil production, putting pressure on prices.

Analysts at Citi Research have lowered their Brent crude price forecast for the next three months to $55 a barrel, from $60 previously, but kept their long-term forecast for this year unchanged at $60 a barrel.

They also said that if a nuclear deal is reached between the US and Iran, Brent crude could fall to nearly $50 a barrel due to increased supply. Conversely, if no deal is signed, oil prices could exceed $70 a barrel.

Domestic gasoline prices today, May 9, 2025

Domestic retail gasoline prices on May 9, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 8 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	18,777	-377
RON 95 gasoline	19,179	-407
Diesel	16,809	-550
Oil	16,941	-623
Fuel oil	15,533	-665

Specifically, the price of E5 RON 92 gasoline decreased by VND377/liter, down to VND18,777/liter; RON 95 gasoline decreased by VND407/liter, down to VND19,179/liter.

The price of 0.05S diesel oil decreased by VND550/liter, down to VND16,809/liter; kerosene oil decreased by VND623/liter, down to VND16,941/liter; the price of 180CST 3.5S mazut oil decreased by VND665/kg, down to VND15,533/kg.

Gasoline prices today May 9, 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 19 adjustment sessions, including 9 decrease sessions, 7 increase sessions and 3 opposite sessions.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-09052025-bat-tang-386735.html