Gasoline price today December 5, 2025: World oil price increases

World oil prices increase sharply on expectations of Fed interest rate cut

On the morning of December 5 (Vietnam time), world oil prices continued to increase in Thursday trading session. Brent crude oil increased by 0.59 USD/barrel (equivalent to 0.94%), to 63.26 USD/barrel. WTI crude oil also increased by 0.72 USD/barrel (equivalent to 1.22%), reaching 59.67 USD/barrel.

The main driver of oil prices is the expectation that the US Federal Reserve will soon cut interest rates. Crude oil prices at times increased by more than 1 USD/barrel during the session, due to the general sentiment that the US interest rate cut will boost the world's largest economy and lead to growth in oil consumption demand.

The dollar index fell, heading for a 10-day losing streak, making oil cheaper and more attractive to buyers using other currencies. Market analysts say the possibility of a Fed rate cut is overshadowing all other factors, driving crude prices higher.

Gasoline price today December 5, 2025: World oil price increases

Besides economic factors, geopolitical tensions are also supporting rising gasoline prices.

US and Venezuela: Escalating tensions between the US and Venezuela are raising concerns about the possibility of reduced oil supplies from the South American country. Experts warn that crude oil prices could be strongly affected by the risk of escalating military tensions between the two countries.

Russia-Ukraine conflict: Peace talks for Ukraine stalled after diplomatic meetings failed to produce a breakthrough in ending the conflict. Expectations of an end to the conflict had previously put downward pressure on oil prices, as traders speculated that Russian oil could return to global markets. Consulting firm Kpler also reported that Ukraine's drone campaign targeting Russian oil refining infrastructure had pushed the country's refining capacity to low levels recently.

U.S. crude and fuel inventories rose last week, contrary to analysts' expectations for a decline, the Energy Information Administration (EIA) reported on Wednesday. Crude inventories rose by 574,000 barrels in the week ended November 28.

In another development, Fitch Ratings has announced a reduction in its oil price forecast for the period 2025 - 2027. This move reflects the prolonged oversupply situation, along with the prospect that global production may increase faster than actual demand.

Domestic gasoline prices increased in the gasoline group.

From 3:00 p.m. on December 5, domestic retail gasoline prices were adjusted by the Ministry of Industry and Trade and the Ministry of Finance.

Accordingly, gasoline prices increased across the board. RON 95-III gasoline (common type) increased by VND460, to VND20,460/liter. E5 RON 92 gasoline also increased by VND540, with a new price of VND19,820/liter.

On the contrary, oil products tend to decrease. Diesel oil decreased by 420 VND, to 18,380 VND/liter. Kerosene decreased by 580 VND, to 18,890 VND/liter. Fuel oil also decreased by 50 VND/kg, with a new price of 13,430 VND/kg.