Gasoline price today April 4, 2025: Crude oil price drops the most in 3 years

World crude oil prices

At the end of the trading session, Brent oil price decreased by more than 6%, down to 70.14 USD/barrel, while WTI oil decreased by nearly 7%, down to 66.95 USD/barrel.

At the OPEC+ meeting, member countries agreed to increase production by 411,000 barrels per day in May, far exceeding the previously planned 135,000 barrels per day. This unexpected adjustment has put pressure on oil prices in the context of the global economy showing signs of slowing down, especially when the new US tariff policy could reduce energy demand.

President Trump announced a minimum 10% tariff on most imports and higher tariffs on goods from many countries, with oil and gas not included in the list. However, the move has raised concerns about an escalating trade war and the negative impact on global supply chains.

At the same time, the US Energy Information Administration (EIA) announced that crude oil inventories increased by 6.2 million barrels last week, contrary to expectations of a decrease of 2.1 million barrels. This further made market sentiment more negative.

Experts say oil prices will be volatile in the short term as changes related to tariffs remain unclear. In addition, the cost of tariffs on domestic consumers and businesses could slow the economic recovery and make it difficult for oil prices to stabilize.

Domestic gasoline prices

In the domestic market, gasoline prices continued to be adjusted up for the third consecutive time in the operating period on April 3.

Specifically, RON 95 gasoline increased by 490 VND/liter, to 20,910 VND/liter.

E5 gasoline increased by 340 VND/liter, to 20,370 VND/liter.

Diesel prices also increased by VND260/liter, to VND18,470/liter.

The Ministry of Industry and Trade and the Ministry of Finance will not use the Price Stabilization Fund in this adjustment period. Previously, on March 27, the price of RON 95 gasoline increased by VND340/liter, and E5 gasoline also increased similarly. Diesel increased by VND320/liter in the previous adjustment period.

Notably, the Ministry of Industry and Trade has just issued Circular No. 18 amending regulations on gasoline price management. Accordingly, from May 2, the current interdisciplinary price management team will be abolished. Instead, the Ministry of Industry and Trade will directly announce the base price and selling price of gasoline based on input data and written opinions from the Ministry of Finance. This is a change aimed at simplifying and improving the efficiency of domestic gasoline price management.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-4-4-2025-gia-dau-tho-giam-manh-nhat-trong-vong-3-nam-3152066.html