Gasoline price today 07/11/2025: World oil prices plummet due to US tax policy

On July 11, world oil prices fell sharply due to concerns about tariffs from the US, while domestic oil prices increased slightly.

World oil prices plummet

On the morning of July 11, 2025, world oil prices fell sharply after US President Donald Trump announced that he could impose a tax of up to 50% on goods from Brazil and many other countries. This move made investors worried about the risk of a global growth slowdown. Specifically, Brent oil prices fell by 1.3 USD to 68.89 USD/barrel, while WTI oil prices fell by 1.47 USD to 66.91 USD/barrel - a decrease of over 2% in just one session.

Uncertainty over US trade policies is causing volatility in the oil market. In addition to Brazil, the Trump administration is planning to impose tariffs on copper, semiconductors and pharmaceuticals from the Philippines, Iraq, South Korea, Japan and more. Analysts warn that market sentiment is becoming cautious due to concerns about sudden policy changes and a lack of clear direction.

In addition to tariffs, the minutes of the US Federal Reserve meeting showed that most officials are still concerned about inflation and have not supported a rate cut in July. This has led to concerns that oil demand will decrease due to high borrowing costs. Meanwhile, the OPEC+ alliance is expected to increase oil production from September after ending previous cuts. However, if demand weakens, this plan could be paused in October.

Domestic gasoline prices increase slightly

Domestically, from 3:00 p.m. on July 10, retail gasoline prices were adjusted up. E5 RON92 gasoline increased by 214 VND/liter, RON95-III increased by 184 VND/liter. Diesel and kerosene also increased simultaneously, while fuel oil decreased by 244 VND/kg. After adjustment, the retail price of E5 RON92 gasoline will not exceed 19,659 VND/liter, RON95-III will not exceed 20,090 VND/liter. Prices of oil products are also listed accordingly to the new adjustment level.

The slight increase in domestic gasoline prices, contrary to the global trend, shows the impact of the operating cycle, while global crude oil prices are reacting strongly to geopolitical instability and tax policies from the US. In this context, the global energy market is forecast to continue to fluctuate unpredictably in the coming time.

Source: https://baodanang.vn/gia-xang-dau-hom-nay-11-07-2025-gia-dau-the-gioi-lao-doc-vi-chinh-sach-thue-cua-my-3265449.html