Oil prices today June 29, 2025 Strait of Hormuz clear, global oil thirst eased

According to a survey by Quang Nam Newspaper , the price of gasoline and oil in the world and in the country is changing a lot, directly affecting our lives. To make it easier for you to understand, this article will explain the situation of gasoline and oil prices on June 29, 2025 in a simple way, without using complicated terms, focusing on the reasons for price changes and their impacts.

World oil prices hit new low

Over the past week, global oil prices have fallen sharply, marking their lowest level since March 2023. Specifically, Brent crude, a popular oil, fell to around $67.31 per barrel, while WTI crude, another oil, was at $65.07 per barrel. This is a much lower price than before, when the price had reached over $80 per barrel in mid-June.

The main reason for the drop in oil prices is that the market is no longer as concerned about political issues in the Middle East as it used to be. The recent conflict between Israel and Iran has not had a major impact on oil shipments, especially through the Strait of Hormuz, where much of the oil is shipped. In addition, the US has reached a ceasefire agreement, which has helped reassure the market. With these concerns reduced, oil prices have not been pushed up.

Another factor is that China, a major oil consumer, increased its oil imports from Iran to a record 1.8 million barrels per day in June. This shows that China's oil demand is increasing, but because the world's oil supply is also increasing, oil prices are falling instead of rising. In particular, the group of major oil producers (known as OPEC+) is expected to increase production by more than 400,000 barrels per day from August, causing many to worry that there will be too much oil on the market while demand has not increased significantly.

In addition, reports from the US showed a decrease in oil inventories, which means that oil demand in the US remains stable, especially during the peak travel season. However, fuel inventories in Europe and Singapore also decreased due to increased exports. All these factors caused world oil prices to fluctuate, but overall they were still lower than before.

Domestic gasoline prices today June 29, 2025

Item	Price adjusted on June 26, 2025 (Unit: VND/liter)	Compared to yesterday 6/19/2025) (Unit: VND/liter/kg)
Gasoline E5 RON 92-II	20,911	+280
Gasoline RON 95-III	21,507	+263
Diesel 0.05S	19,707	+511
Kerosene	19,417	+494
Fuel oil	17,269	-374

In Vietnam, gasoline prices on June 29, 2025 were adjusted from June 26 and remain unchanged until today. Specifically, the price of E5 RON 92 gasoline increased by VND 280 per liter, to VND 20,911 per liter. RON 95-III gasoline also increased by VND 263 per liter, reaching VND 21,507 per liter. Diesel increased more sharply, by VND 511 per liter, to VND 19,707 per liter, and kerosene increased by VND 494 per liter, to VND 19,417 per liter. However, the price of fuel oil decreased by VND 374 per kg, to VND 17,269 per kg.

These changes are partly due to the decrease in world oil prices, but in Vietnam, retail prices of gasoline also depend on factors such as taxes, fees and state management. The Ministry of Finance and the Ministry of Industry and Trade have decided not to use the Petroleum Price Stabilization Fund in this adjustment, so gasoline prices increase according to market trends.

Since the beginning of 2025, domestic gasoline prices have changed 26 times, with 12 increases, 9 decreases, and 5 times remaining the same or having different adjustments between types. This shows that domestic gasoline prices are quite sensitive to the world market, but are also adjusted to suit the domestic situation.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-29-6-2025-eo-bien-hormuz-thong-suot-con-khat-dau-toan-cau-dieu-lai-3157849.html