Gasoline price today May 15, 2025: Crude oil price decreased by nearly 1%

World oil price today 5/15/2025

At the close of trading, Brent crude fell 0.81% to $66 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.82% to $63.15 a barrel. Both crudes had earlier approached two-week highs, buoyed by hopes that the U.S. and China would temporarily reduce tariffs.

By the morning of May 15, the downward trend continued. At 7:20 a.m. (Vietnam time), Brent crude oil was at 65.27 USD/barrel (down 0.81%) and WTI crude oil fell sharply by 1.43% to 62.25 USD/barrel. Crude oil for October delivery on the Tokyo Stock Exchange also fell by 1.78% to 57,530 JPY/barrel.

The main reason for the price drop was a report from the US Energy Information Administration (EIA) that said crude oil inventories rose by 3.5 million barrels to 441.8 million barrels last week. This was contrary to analysts' previous forecasts, which expected inventories to fall by 1.1 million barrels. At the same time, US net oil imports also increased by 422,000 barrels per day.

In addition, data from the American Petroleum Institute (API) on May 13 showed that crude oil inventories increased by 4.3 million barrels. Analysts said that such a large increase in inventories does not support the recovery of oil prices.

Meanwhile, OPEC+ continues to pump more oil into the market, increasing supply. Although OPEC kept its demand forecast unchanged, the organization lowered its expectations for output growth from the US and non-OPEC+ countries this year. However, according to experts, if supply continues to exceed demand, the market will come under strong downward pressure.

Tensions are also brewing within OPEC+ over Kazakhstan’s oil production. The country’s production fell 3% month-on-month in April to 1.82 million barrels per day, but still exceeded its OPEC+ quota of 1.473 million barrels per day.

Saudi Arabia has demanded strict compliance with its cuts, but Kazakhstan has said it will not reduce output in the near future.

The recovery of the US dollar also contributed to the pressure on oil prices. The increase in the greenback makes oil more expensive for investors holding other currencies, thereby reducing demand for buying in the international market.

Gasoline price today May 15, 2025: Crude oil price decreased by nearly 1%

World oil prices today May 15, 2025

On the afternoon of May 8, the Ministry of Industry and Trade and the Ministry of Finance adjusted domestic gasoline prices. Accordingly, retail prices of popular gasoline products continued to be adjusted down compared to the previous period.

Specifically, E5 RON92 gasoline decreased by 377 VND/liter, currently with a maximum price of 18,777 VND/liter. RON95-III gasoline decreased by 407 VND/liter, to 19,179 VND/liter. Diesel 0.05S decreased sharply by 550 VND/liter, down to 16,809 VND/liter. Kerosene also decreased by 623 VND/liter, to 16,941 VND/liter. Mazut 180CST 3.5S decreased by 653 VND/kg, with a maximum price of 15,533 VND/kg.

This new price officially takes effect from 3:00 p.m. on May 8, 2025.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-15-5-2025-gia-dau-tho-giam-gan-1-3154792.html