World oil prices
On the morning of June 12, 2025, world oil prices continued to increase sharply, reaching their highest level in the past two months. The main reason came from escalating tensions between the US and Iran, causing the market to worry about the risk of disruption to global energy supplies.
As of 11:00 a.m. Vietnam time, Brent crude oil was trading at $69.47 per barrel, while WTI crude oil was at $67.95 per barrel.
Earlier, at the close of the session on June 11, both types of oil increased slightly, with Brent up 0.2% and WTI up 0.3%. Notably, in yesterday's trading session, oil prices jumped more than 4%, marking the highest level since early April.
The main reason for this increase is the announcement of the US to withdraw diplomatic staff from the Middle East region, in the context of increasingly serious tensions with Iran. Nuclear negotiations between the two countries have failed, making the possibility of easing sanctions on Iran fragile, which could further tighten oil supplies from this country.
In addition to geopolitical factors, the market is also affected by supply and demand factors. The latest data from the US Energy Information Administration (EIA) shows that US crude oil reserves fell by 3.6 million barrels to 432.4 million barrels last week. At the same time, domestic gasoline demand in the US is also increasing, reflecting the approaching summer tourist season.
On the economic front, the US consumer price index (CPI) rose slightly in May, reinforcing expectations that the US Federal Reserve (Fed) will begin cutting interest rates in September. If interest rates fall, this could boost production and consumption, thereby increasing energy demand.
Analysts say that, in addition to geopolitical risks, recovering energy demand in OPEC+ countries, especially Saudi Arabia, along with progress in global trade will continue to be strong supporting factors for oil prices in the coming time.
Domestic gasoline prices today June 12
According to information from the Ministry of Industry and Trade - Ministry of Finance, domestic gasoline prices are still subject to the adjustment from the operating period of June 5, 2025.
During this period, the operator did not set aside and did not use the Petroleum Price Stabilization Fund for key products such as E5 RON92 and RON95 gasoline, diesel, kerosene and fuel oil.
As of June 12, 2025, the retail prices of commonly consumed gasoline are listed as follows:
E5 RON92 gasoline: 19,263 VND/liter
RON95-III gasoline: 19,698 VND/liter
Diesel 0.05S: 17,420 VND/liter
Kerosene: 17,284 VND/liter
Mazut oil 180CST 3.5S: 16,178 VND/kg
However, with the sharp increase in world oil prices and the risk of global supply disruption due to geopolitical tensions, especially between the US and Iran, domestic experts predict that retail gasoline prices in today's adjustment period, June 12, are likely to increase again.
Specifically, according to some leaders of petroleum businesses, if the Price Stabilization Fund is not used, gasoline prices could increase by 120 - 220 VND/liter, while diesel is expected to increase by 150 - 250 VND/liter.
Meanwhile, the Vietnam Petroleum Institute (VPI) used a forecasting model to show that:
E5 RON92 gasoline may increase by 173 VND, to 19,433 VND/liter
RON95 gasoline increased by 217 VND, to 19,907 VND/liter
Diesel oil may increase by 314 VND, to 17,734 VND/liter
Kerosene increased by 272 VND, to 17,556 VND/liter.
Fuel oil may increase to 16,380 VND/kg
If the above forecasts come true, domestic gasoline prices will approach VND20,000/liter for the first time in more than two months, reflecting the trend of increasing global energy prices.
This price increase not only affects people's living costs but also directly affects transportation fares and many related manufacturing industries.
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Source: https://baonghean.vn/gasoline-price-to-date-June-12-increases-to-the-highest-level-in-2-months-10299463.html
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