Gasoline price today July 29: Continue to increase

At 6:00 a.m. on July 29, the price of WTI oil stood at 66.94 USD/barrel, up 1.75 USD/barrel, while the price of US Brent oil was 70.31 USD/barrel, up 1.84 USD/barrel.

Oil prices rose from three-week lows after the United States and the European Union (EU) reached a trade deal, easing concerns about tariffs and boosting expectations for future energy demand.

The deal also calls for the EU to buy $750 billion in US energy over several years. In addition, the EU has pledged to buy hundreds of billions of dollars in US military equipment and invest $600 billion.

World oil prices continue to rise (Illustration photo)

Easing trade tensions boosts economic activity and cross-border trade, which in turn increases oil demand through increased energy use in transportation and industry.

The energy part of the deal also supported oil prices by reinforcing long-term demand expectations for US exports, particularly liquefied natural gas and crude oil.

Oil markets were also supported by improved risk sentiment as near-term trade war concerns eased. However, investors are still cautiously watching President Donald Trump’s August 1 tariff deadline for more clarity on U.S. trade policy.

However, gains were capped by expectations of higher global supplies. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are expected to raise output moderately in August, while Venezuelan crude could return to the market amid the possibility of easing of US sanctions.

Domestic gasoline prices

During the operating period on July 24, the price of E5 RON92 gasoline decreased by VND202/liter, not higher than VND19,279/liter. The price of RON95 gasoline decreased by VND216/liter, not higher than VND19,709/liter.

Meanwhile, oil prices increased and decreased in opposite directions. Specifically, diesel prices increased by 330 VND/liter, not higher than 19,129 VND/liter. Kerosene prices increased by 199 VND/liter, not higher than 18,628 VND/liter. Fuel oil alone decreased by 99 VND/kg, not higher than 15,379 VND/kg.

Since the beginning of 2025, domestic gasoline prices have undergone 29 adjustment sessions, including 12 decreases, 12 increases and 5 opposite sessions.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-29-7-tiep-tuc-tang-5054482.html