Gasoline price today October 21, 2025: Oil price continues to decrease

Oil prices today October 21, 2025: Oil prices continue to fall due to market concerns about oversupply and negative impacts from US-China trade tensions

World oil price today October 21

World oil prices fell slightly in the first session of the week as investors worried that the oversupply could last. Trade tensions between the US and China increased the risk of an economic recession, causing energy demand to weaken.

Brent crude futures fell 0.3% to $61.11 a barrel, while U.S. West Texas Intermediate (WTI) crude also fell 0.3% to $57.37 a barrel.

The current oil price trend reflects investor caution as investors weigh the risk of oversupply against falling demand.

Traders are shifting their focus from concerns about supply shortages to the risk of oversupply, a development that is evident in the structure of Brent crude futures contracts.

The spread between short-term and long-term contracts is in a state of contango, where the price of the earlier contract is lower than the price of the later contract. This situation encourages investors to store oil to sell later when supplies tighten, thereby profiting from the higher prices.

The contango resurfaced last Thursday and has now widened to around -0.30/barrel, its deepest level since late 2023.

Meanwhile, backwardation, when spot prices are higher than futures prices, is a sign that short-term oil supplies are abundant, reducing the profit from selling immediately. This is a clear sign that oil prices are under pressure from oversupply.

Both Brent and WTI fell more than 2% last week, marking their third consecutive weekly decline, partly due to the International Energy Agency's (IEA) forecast that the market could fall into a serious oversupply situation by 2026.

This information has strongly impacted investor sentiment, causing oil prices to not recover even though demand is gradually recovering in some regions.

The trade situation between the world's two largest economies continues to escalate, with the Director General of the World Trade Organization (WTO) warning that economic decoupling between the US and China could cause global growth to fall by 7% in the long term.

Both countries are the world's largest oil consumers, so any trade conflict could reduce demand for energy imports.

Both sides have recently continued to impose additional tariffs and port fees on each other’s goods, causing global shipping costs to rise sharply. These tit-for-tat moves have increased uncertainty in the supply chain, threatening to reduce trade volumes and negatively impact oil prices.

Another factor driving oil prices is the risk of Russian oil supplies. US President Donald Trump said Washington would maintain huge tariffs on India if it did not stop buying oil from Russia. This tension added to the uncertainty in the energy market.

On the other hand, domestic supply is increasing in the US. According to energy services company Baker Hughes, the number of oil rigs in the US has increased again after three consecutive weeks of decline. The increase in production could put further pressure on oil prices in the coming time, especially when the global market is still oversupplied.

Gasoline price today October 21, 2025

On the afternoon of October 16, the Ministry of Industry and Trade - Ministry of Finance announced the adjustment of retail gasoline prices in the new management period. From 3:00 p.m. on the same day, the price of E5 RON 92 gasoline increased by 88 VND/liter to 19,226 VND/liter, while RON 95-III gasoline increased by 174 VND/liter, reaching 19,903 VND/liter.

On the contrary, oil prices decreased, of which diesel decreased by 181 VND/liter, kerosene decreased by 28 VND/liter, and mazut decreased the most with 437 VND/liter.

Item	Price adjusted on October 16, 2025 (Unit: VND/liter)	Compared to yesterday (October 9, 2025) (Unit: VND/liter/kg)
E5 RON 92-II gasoline	19,226	+88
RON 95-III gasoline	19,903	+174
Diesel oil 0.05S19.038	18,423	-181
Kerosene	18,406	-28
Fuel oil	14,371	-437

During this operating period, the management agency continues not to set aside or use the Petroleum Price Stabilization Fund.

The Ministry of Industry and Trade and the Ministry of Finance said the management goal is to maintain a reasonable price difference between E5 RON 92 bio-fuel and RON 95 mineral gasoline to encourage people to use environmentally friendly fuel.

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Source: https://baonghean.vn/gia-xang-dau-hom-nay-21-10-2025-gia-dau-tiep-tuc-giam-10308554.html