Gasoline prices today (May 25): "Missed appointment" with hat-trick of weekly increases

World oil prices

This week, oil prices have missed their hat-trick of weekly gains. After two consecutive weeks of climbing, oil prices have unexpectedly slowed down. Brent crude fell 63 cents, or 0.96%, to $64.78 a barrel, while WTI crude fell 96 cents, or 1.53%, to $61.53 a barrel.

Oil prices fall after 2 weeks of increase. Illustration photo: Reuters

Oil prices showed signs of slowing down in the first trading session of the week. In this session, oil prices only increased slightly, up to 20 cents, much lower than in previous trading sessions, when there were signs that US-Iran negotiations on Tehran's nuclear program had collapsed. Limiting the increase in the session was Moody's downgrading the US national credit rating from the highest level Aaa to Aa1 and comments by US Treasury Secretary Scott Bessent that US President Donald Trump would impose the tariffs announced last month on trading partners that do not negotiate in "good faith".

Uncertainty over US-Iran talks and Russia-Ukraine peace talks pushed oil prices down by a maximum of 16 cents in the second trading session of the week.

Oil prices extended their decline by 0.7% in the third trading session of the week after Oman's foreign minister said the fifth round of nuclear talks between Iran and the United States would take place on May 23. According to Reuters, in the previous four rounds of negotiations, Tehran refused to ship all of its highly enriched uranium reserves abroad or to discuss its ballistic missile program. Oil prices also fell because data showed that US gasoline, oil and distillate inventories unexpectedly increased: US crude oil inventories increased by 1.3 million barrels, gasoline inventories increased by about 800,000 barrels, and distillate inventories increased by about 600,000 barrels.

Oil prices recorded a hat-trick of losses in the fourth trading session of the week. In this session, oil prices slid approximately 0.7% as investors weighed the news that OPEC+ is discussing a production increase of 411,000 barrels/day in July, raising concerns about oversupply.

After three sessions of declines, oil prices unexpectedly rebounded slightly more than 0.5% in the final trading session of the week. Supporting the price increase were factors such as US buyers protecting positions ahead of the three-day Memorial Day holiday and concerns about the latest round of nuclear negotiations between the US and Iran.

According to economic experts, oil prices are likely to continue to fall if OPEC+ gradually increases production. Illustration photo: Reuters

Also in this last trading session, the market received information that the White House owner is proposing to impose a direct tariff of 50% on goods from the European Union, starting June 1, on the grounds that this bloc will find it difficult to negotiate on trade.

So this week, oil prices have had 2 sessions of increase and 3 sessions of decrease. All sessions were thinly traded. Oil prices have recorded a week of decrease.

Domestic gasoline prices

Domestic retail prices of gasoline on May 25 are as follows:

E5 RON 92 gasoline is not more than 19,122 VND/liter.

RON 95-III gasoline is not more than 19,532 VND/liter.

Diesel oil not more than 17,405 VND/liter.

Kerosene not more than 17,314 VND/liter.

Fuel oil not exceeding 16,512 VND/kg.

The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of May 22. Because the world price of gasoline and oil increased last week, but decreased in recent trading sessions, the domestic price of gasoline and oil was also adjusted in opposite directions, with gasoline prices decreasing slightly and oil prices increasing slightly. The price of E5 RON 92 gasoline decreased by 58 VND/liter, RON 95-III gasoline decreased by 62 VND/liter, diesel increased by 177 VND/liter, kerosene increased by 88 VND/liter and fuel oil increased by 352 VND/kg.

In this management period, the joint ministries continued not to set aside or use the Petroleum Price Stabilization Fund for E5 RON 92 gasoline, RON 95 gasoline, diesel, kerosene, and fuel oil.

MAI HUONG

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Source: https://baodaknong.vn/gia-xang-dau-hom-nay-25-5-loi-hen-voi-hat-trick-tang-tuan-253557.html