Tariff policy puts pressure on the market
World oil prices fell sharply on July 15 after US President Donald Trump announced new taxes and sanctions on countries that continue to buy oil from Russia. Brent crude fell $1.15 to $69.21 per barrel, while WTI crude fell $1.47 to $66.98 per barrel.
The message from Washington raised concerns about supply disruptions, but also kept the market on edge, as the US still set a 50-day deadline for Russia to reach a peace deal with Ukraine. This caused the oil price rally to cool early.
In addition to Russia-Ukraine tensions, markets have been affected by Trump’s planned tariffs on a number of trading partners, from Brazil to China. Investors fear that global inflation could rise if these tariffs are implemented, leading to lower energy demand.
Many experts believe that the risks from Mr. Trump's statement are real, but given the long term and past precedent of delaying tariffs, the current market reaction is quite reserved.
Domestic gasoline prices remain high
Domestically, gasoline prices have been adjusted since the afternoon of July 10 and remain high. E5 RON92 gasoline is currently at VND19,659/liter, RON95 gasoline is VND20,090/liter. Diesel and kerosene are at VND18,837 and VND18,371/liter, respectively. Fuel oil has slightly decreased to VND15,563/kg.
Specifically, domestic retail gasoline prices on July 15 are as follows:
| Fuel type | Maximum price (VND/liter) |
|---|---|
E5 RON92 gasoline | 19,659 VND/liter |
Gasoline RON95-III | 20,090 VND/liter |
Diesel 0.05S | 18,837 VND/liter |
Oil | 18,371 VND/liter |
Mazut oil 180CST 3.5S | 15,563 VND/kg |
In the most recent management period, the Ministry of Industry and Trade - Ministry of Finance did not use the Petroleum Price Stabilization Fund. Although world prices have just decreased, domestic prices have not yet been adjusted.
World oil prices have been fluctuating in recent days due to geopolitical tensions, along with unclear tariff policies from the US. Domestically, retail price movements still depend on the upcoming adjustment period and international market trends. With the current developments, domestic consumers cannot expect a new round of price reductions in the coming days.
Source: https://baodanang.vn/gia-xang-dau-hom-nay-ngay-15-7-the-gioi-truot-doc-xang-dau-trong-nuoc-binh-than-tren-dinh-3296856.html
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