Gasoline price drops to nearly 19,500 VND/liter, oil price increases

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 22). The application time is from 3:00 p.m. on May 22, 2025.

Today's gasoline prices, from 3:00 p.m. on May 22, 2025, E5 RON gasoline decreased by 58 VND/liter, RON 95 gasoline decreased by 62 VND/liter, however, oil prices increased. Photo: TT

Specifically, the price of E5 RON 92 gasoline decreased by 58 VND/liter, down to 19,122 VND/liter; RON 95 gasoline decreased by 62 VND/liter, down to 19,532 VND/liter.

However, in this adjustment period, the price of diesel 0.05S increased by 177 VND/liter, to 17,405 VND/liter; kerosene increased by 88 VND/liter, to 17,314 VND/liter; the price of mazut 180CST 3.5S increased by 352 VND/kg, to 16,512 VND/kg.

Also in this management 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.

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 15, 2025 and the adjustment period on May 22, 2025 is: 75.222 USD/barrel of RON92 gasoline used to blend E5RON92 gasoline (down 0.271 USD/barrel, equivalent to a decrease of 0.36%); 76.726 USD/barrel of RON95 gasoline (down 0.267 USD/barrel, equivalent to a decrease of 0.35%); 78.916 USD/barrel of kerosene (up 0.536 USD/barrel, equivalent to an increase of 0.68%); 80.148 USD/barrel of 0.05S diesel oil (up 1.035 USD/barrel, equivalent to an increase of 1.31%); 439,476 USD/ton of 180CST 3.5S fuel oil (up 12,493 USD/ton, equivalent to an increase of 2.93%).

The world oil market in this operating period (from May 15, 2025 to May 21, 2025) is affected by major factors such as: continued tensions in the Middle East; increased US crude oil reserves; updated information on US tax policies on goods from trading partners; ongoing military conflict between Russia and Ukraine... The above factors have caused world oil prices to fluctuate up and down depending on each commodity in recent days.

Specifically, early this morning, Brent oil price was at 65.15 USD/barrel, down 0.29%, equivalent to a decrease of 0.19 USD/barrel. Similarly, WTI oil price was at 61.84 USD/barrel, down 0.32%, equivalent to a decrease of 0.20 USD/barrel.

According to the latest report from the US Energy Information Administration (EIA), US crude oil, gasoline and distillate inventories all increased unexpectedly in the week ending May 16. Specifically, crude oil inventories increased by 1.3 million barrels, gasoline increased by about 800,000 barrels and distillate inventories increased by about 600,000 barrels.

"The market did not react positively to the increase in crude oil, gasoline and distillate inventories," said analyst Giovanni Staunovo at UBS bank.

US intelligence reports that Israel may be planning to attack Iran’s nuclear facilities, escalating regional tensions. However, oil prices failed to maintain their early gains as Tel Aviv’s final decision remained unclear.

On the supply side, Kazakhstan's oil output recorded a 2% increase in May, despite commitments to cut under the OPEC+ agreement.

The figures raised concerns about demand in the world's largest economy.

Previously, in the May 15, 2025 management period of the Ministry of Industry and Trade - Finance, gasoline prices were adjusted to increase, specifically, the price of E5 RON92 gasoline increased by 403 VND/liter, not higher than 19,180 VND/liter. The price of RON95 gasoline increased by 415 VND/liter, to 19,594 VND/liter. The price of diesel oil increased by 419 VND/liter, not higher than 17,228 VND/liter. The price of kerosene increased by 285 VND/liter, to 17,226 VND/liter and the price of fuel oil increased by 627 VND/kg, not higher than 16,160 VND/kg. In this period, the management agency continued not to set aside or use the gasoline price stabilization fund for all products.

Since the beginning of 2025, domestic gasoline prices have undergone 21 adjustment sessions, including 11 decreases, 8 increases and 2 opposite sessions.

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Source: https://congthuong.vn/gia-xang-giam-ve-sat-19500-donglit-gia-dau-tang-388793.html