Oil prices today May 28, 2025: Oil prices fell 1.5%, affected by concerns about oversupply after Iranian and US delegations made some progress in negotiations, along with expectations that OPEC+ will decide to increase production at this weekend's meeting.
Gasoline price today May 28, 2025
Recorded on Oilprice at 4:30 a.m. on May 28, 2025 (Vietnam time), Brent oil price was at 63.76 USD/barrel, down 1.51% (equivalent to a decrease of 0.98 USD/barrel).
Brent oil price on the world market early morning of May 28, 2025 (Vietnam time) |
Similarly, WTI oil price was at 60.46 USD/barrel, down 1.72% (equivalent to a decrease of 1.06 USD/barrel).
WTI oil price on the world market in the early morning of May 28, 2025 (Vietnam time) |
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are not expected to change policy at a meeting on Wednesday, but three members of the group told Reuters that a meeting on Saturday would likely see agreement to continue to accelerate the pace of production increases for July.
Meanwhile, Iranian and US delegations concluded their fifth round of talks in Rome last week. Although there have been some signs of progress, there are still many insurmountable differences, especially on Iran’s uranium enrichment.
If the nuclear talks between the US and Iran fail, sanctions on Iran could remain in place, restricting the country’s oil supply. Conversely, if a deal is reached, the market could see more oil supplies from Iran.
Supporting prices was President Donald Trump’s decision to extend trade talks with the European Union until July 9, easing concerns that tariffs could hurt fuel demand. Wall Street also opened in the green on Tuesday, helped by Trump’s move to delay tariffs.
“Trade concerns are easing, which is providing some support for oil prices. The upside is limited until we get clarity on the OPEC+ decision on Saturday,” said UBS analyst Giovanni Staunovo.
At the same time, the US dollar rose as the Japanese yen was pressured by a sharp drop in long-term Japanese bond yields, while investors felt more reassured after Mr. Trump's decision to delay higher tariffs on the EU.
Domestic gasoline prices today May 28, 2025
Domestic retail gasoline prices on May 28, 2025 will be applied according to the adjustment session from 3:00 p.m. on May 22 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 19,122 | -58 |
RON 95 gasoline | 19,532 | -62 |
Diesel | 17,405 | +177 |
Oil | 17,314 | +88 |
Fuel oil | 16,512 | +352 |
Specifically, the price of E5 RON 92 gasoline decreased by 58 VND/liter, down to 19,122 VND/liter; RON 95 gasoline decreased by 62 VND/liter, down to 19,532 VND/liter.
However, in this adjustment period, the price of diesel 0.05S increased by 177 VND/liter, to 17,405 VND/liter; kerosene increased by 88 VND/liter, to 17,314 VND/liter; the price of mazut 180CST 3.5S increased by 352 VND/kg, to 16,512 VND/kg.
Gasoline prices today May 28, 2025. Photo by Dinh Tuan |
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2025 to now, domestic gasoline prices have undergone 21 adjustment sessions, including 9 decrease sessions, 8 increase sessions and 4 opposite sessions.
Ngoc Hung
Source: https://congthuong.vn/gia-xang-dau-hom-nay-28052025-giam-do-lo-ngai-du-cung-389628.html
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