Gasoline prices continue to fall, some types fall by nearly 700 VND/liter

Today's gasoline prices, from 3:00 p.m. on May 8, 2025, E5 RON 92 gasoline decreased by 377 VND/liter, RON 95 gasoline decreased by 407 VND/liter; oil prices also decreased sharply.

The Ministry of Industry and Trade - Ministry of Finance has just adjusted the retail price of gasoline and oil in the adjustment period today (May 8). The application time is from 3:00 p.m. on May 8, 2025.

Today's gasoline prices, from 3:00 p.m. on May 8, 2025, E5 RON 92 gasoline decreased by 377 VND/liter, RON 95 gasoline decreased by 407 VND/liter; oil prices also decreased sharply. Photo: TT

Specifically, the price of E5 RON 92 gasoline decreased by VND377/liter, down to VND18,777/liter; RON 95 gasoline decreased by VND407/liter, down to VND19,179/liter.

The price of 0.05S diesel oil decreased by VND550/liter, down to VND16,809/liter; kerosene oil decreased by VND623/liter, down to VND16,941/liter; the price of 180CST 3.5S mazut oil decreased by VND665/kg, down to VND15,533/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

According to the Ministry of Industry and Trade, the average price of finished petroleum products in the world between the price adjustment period on May 5, 2025 and the adjustment period on May 8, 2025 is: 73,280 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 1,965 USD/barrel, equivalent to a decrease of 2.61%); 74,863 USD/barrel of RON95 gasoline (down 1,985 USD/barrel, equivalent to a decrease of 2.58%); 76,780 USD/barrel of kerosene (down 3,368 USD/barrel, equivalent to a decrease of 4.20%); 76,770 USD/barrel of 0.05S diesel oil (down 2,950 USD/barrel, equivalent to a decrease of 3.70%); 405,157 USD/ton of 180CST 3.5S fuel oil (down 22,473 USD/ton, equivalent to a decrease of 5.26%).

On the world market at 6:00 a.m. on May 8, Brent oil price was at 61.60 USD/barrel, continuing to decrease by 0.84%, equivalent to a decrease of 0.52 USD/barrel. Similarly, WTI oil price was at 58.69 USD/barrel, decreasing by 0.63%, equivalent to a decrease of 0.37 USD/barrel.

Both benchmarks fell to four-year lows this week after OPEC+ decided to accelerate output increases, stoking concerns about oversupply at a time when U.S. tariffs have added to demand concerns.

However, some US producers have signaled they will cut spending, warning that the country's oil production may have peaked, which is also contributing to the market's recovery.

However, experts say volatility is expected to continue as OPEC+ supply increases faster than expected, while US policy remains unpredictable. In addition, the conflict in the Middle East between Israel and the Houthi forces adds to geopolitical risks.

Analysts polled by Reuters on average expected U.S. crude inventories to fall by 800,000 barrels last week.

Previously, in the operating period on May 5, 2025 of the Ministry of Industry and Trade - Finance, gasoline prices were adjusted down, specifically, the price of E5 RON 92 gasoline decreased by 84 VND/liter, down to 19,154 VND/liter; RON 95 gasoline decreased by 52 VND/liter, down to 19,586 VND/liter.

The price of 0.05S diesel decreased by VND165/liter, down to VND17,359/liter; kerosene decreased by VND151/liter, down to VND17,564/liter; the price of 180CST 3.5S mazut decreased by VND326/kg, down to VND16,198/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Since the beginning of 2025, domestic gasoline prices have undergone 18 adjustment sessions, including 11 decreases, 7 increases and 1 opposite session.

Vietnamese English

Source: https://congthuong.vn/gia-xang-dau-tiep-da-giam-co-loai-giam-gan-700-donglit-386637.html