The rise of world crude oil has not stopped yet
Early morning of July 13, Vietnam time, Brent oil price was recorded at 70.63 USD/barrel, up 1.72 USD, equivalent to 2.51% compared to the previous session. WTI oil also increased sharply, reaching 68.75 USD/barrel, equivalent to an increase of 2.82% (equivalent to 1.88 USD). This is the third consecutive week of increase for both key oil types, reflecting concerns about supply shortages in the global market.
According to the International Energy Agency (IEA), oil demand has increased sharply due to the peak tourist season and increased electricity demand, especially in China. Brent crude for September delivery is now about $1.20 a barrel higher than October – a clear sign that the market is facing a short-term supply shortage.
Impact from supply and policies of major producing countries
In the US, the number of active rigs fell for an 11th straight week, the longest such decline since mid-2020. Russia and Saudi Arabia, the two leading OPEC+ nations, continued to act to keep oil prices stable. Russia has said it will stick to its production cut quota, while Saudi Arabia is expected to export more than 51 million barrels of oil to China in August, the highest in more than two years.
However, the medium- and long-term outlook remains uncertain. The IEA raised its 2025 supply forecast but lowered its demand growth expectations. OPEC made a similar assessment, expressing particular caution about China’s oil consumption in 2026–2029, according to a report released on July 10.
Forecasting OPEC+ moves in the coming months
OPEC+ is expected to raise output again in September 2025. However, if demand grows more strongly than expected, the alliance may pause its plan to increase production in October. In the long term, OPEC's latest report shows that global oil demand is on a downward trend due to economic factors and clean energy policies in many countries.
Domestic gasoline prices continue to increase
At the operating session on July 10, the Ministry of Industry and Trade - Ministry of Finance adjusted the retail price of gasoline. Accordingly, E5 RON 92 gasoline increased by 214 VND/liter, to 19,659 VND/liter. RON 95 gasoline increased by 184 VND/liter, to 20,090 VND/liter. Diesel increased by 429 VND/liter, to 18,837 VND/liter. Kerosene increased by 239 VND/liter, to 18,371 VND/liter. Fuel oil alone decreased by 244 VND/kg, to 15,563 VND/kg.
Notably, during this adjustment period, the operator did not use the Petroleum Price Stabilization Fund for any products.
Impact of world market on domestic prices
According to the Ministry of Industry and Trade, world oil prices in the recent management period were affected by many factors such as tensions in the Red Sea, the new US import tax policy, increased US crude oil inventories and the prolonged military conflict between Russia and Ukraine. The average world finished product prices between the two management periods (July 3 - July 10) showed a slight upward trend for most commodities, except for fuel oil.
Specifically, the price of RON 92 gasoline used to blend E5 gasoline increased by 1.088 USD/barrel (1.40%), RON 95 gasoline increased by 0.850 USD/barrel (1.07%), kerosene increased by 1.620 USD/barrel (1.92%), diesel increased by 2.366 USD/barrel (2.72%). Only fuel oil decreased slightly by 0.44%.
Gasoline price developments since the beginning of the year
Since the beginning of 2025, the price of RON 95 gasoline has increased 16 times and decreased 13 times. Diesel oil has increased 13 times, decreased 13 times and remained unchanged once. These fluctuations show the sensitivity of the domestic market to global factors, especially in the context of continued strong fluctuations in geopolitics and world energy.
Source: https://baodanang.vn/gasoline-price-today-13-7-2025-gasoline-price-in-the-world-increases-week-3-continued-gasoline-in-the-nuoc-tiep-tuc-nhich-nhe-3265611.html
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