Gasoline price today October 16, 2025: Slight increase again

World oil price today October 16: Slight increase again

World oil prices rose slightly in midweek trading, after hitting a five-month low in the previous session. Specifically, Brent crude oil prices increased 0.85%, equivalent to 53 cents, to 62.92 USD/barrel. US WTI crude oil also increased 1.06%, to 59.32 USD/barrel.

Gasoline price today October 16: Slight increase again

Experts say that the current trend in gasoline prices is greatly influenced by market risks and trade tensions between the US and China.

The trade war between the world’s two largest economies is heating up again. The US and China have imposed additional port fees on passing cargo ships, raising concerns about disruption to global supply chains, including oil shipping routes.

Not only that, China announced to tighten control over rare earth exports, while US President Donald Trump threatened to raise tariffs up to 100% on Chinese goods and restrict software exports from November 1. These moves made investors more cautious with the energy market.

The global oil market could face a supply glut of up to 4 million barrels per day next year, higher than previously forecast, according to the International Energy Agency (IEA), due to OPEC+ and other producers increasing production while demand remains low.

Analysts say this oversupply will be a key factor in determining the trend of gasoline prices in the coming time, in addition to the US-China trade developments.

Investors are now waiting for weekly crude oil inventory reports to gauge demand in the US. A preliminary Reuters survey forecasts that US crude inventories rose by about 200,000 barrels in the week ended October 10, while gasoline and distillate inventories may fall.

The report from the American Petroleum Institute (API) is scheduled to be released at 20:30 GMT on October 15, while official data from the US Energy Information Administration (EIA) will be released at 14:30 GMT on October 16. Both reports were delayed due to the Columbus Day holiday earlier in the week.

Experts say oil prices are likely to fluctuate within a narrow range until there is clearer information from two main factors: progress in US-China trade negotiations and US inventory reports.

In the context of excess supply and weak demand, any positive signal from these two fronts could provide a temporary boost to the global oil market.

Gasoline prices today October 16: Domestic prices drop sharply

Today's gasoline price, October 16, was adjusted according to the gasoline price at the regular management session yesterday, October 9, jointly by the Ministry of Finance and the Ministry of Industry and Trade, in which gasoline prices simultaneously decreased sharply from 430 VND to more than 570 VND/liter depending on the type.

Of which, the sharpest decrease was in kerosene and mazut with nearly 600 VND/liter, the biggest decrease in the past month.

Currently, domestic gasoline prices are sold at:

- E5 RON 92 gasoline decreased by 486 VND/liter, retail price is 19,138 VND/liter

- RON 95 gasoline decreased by 480 VND/liter, retail price is 19,729 VND/liter;

- Diesel oil decreased by 434 VND/liter, retail price is more than 18,600 VND/liter;

- Kerosene dropped sharply by 571 VND/liter, retail price is more than 18,434 VND/liter;

- Fuel oil decreased by 562 VND/liter, retail price is more than 14,808 VND/liter.

The average price of finished petroleum products in the world between the price adjustment period of October 2, 2025 and the adjustment period of October 9, 2025 is:

76,138 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 2,578 USD/barrel, equivalent to a decrease of 3.28%);

78.322 USD/barrel of RON95 gasoline (down 2.366 USD/barrel, equivalent to a decrease of 2.93%);

86,298 USD/barrel of kerosene (down 3,088 USD/barrel, equivalent to a decrease of 3.45%);

87,660 USD/barrel of 0.05S diesel oil (down 2,308 USD/barrel, equivalent to a decrease of 2.57%);

392,696 USD/ton of 180CST 3.5S fuel oil (down 19,100 USD/ton, equivalent to a decrease of 4.64%).

In this price adjustment, the management agency continues not to use funds from the Petroleum Price Stabilization Fund.

Looking back from the beginning of the year until now, the petroleum market has experienced many fluctuations. The price of RON 95 gasoline has increased a total of 23 times and decreased 19 times. Similarly, the price of diesel has also increased 21 times, decreased 19 times and remained unchanged once.

Source: https://baonghean.vn/gia-xang-dau-hom-nay-16-10-2025-tang-nhe-tro-lai-10308275.html