World oil prices last week recorded the deepest weekly decline since March 2023, as the market reacted negatively to the news that OPEC+ could increase oil production in August, in the context of easing Middle East tensions and investors focusing on actual supply and demand factors.
Overall, Brent oil prices fell 12% last week.
At the beginning of this week's trading session (June 30), world oil prices decreased slightly as investors assessed that geopolitical risks in the Middle East had cooled down.
At the end of the session on June 30, Brent oil price decreased by 0.24% to 67.61 USD/barrel; WTI oil price decreased by 0.84% to 64.97 USD/barrel.
In the trading session on July 1, world oil prices reversed and increased slightly, as investors assessed positive signals about energy demand and cautiously followed the upcoming OPEC+ meeting to decide on production policy for August.
At the beginning of today's trading session (July 2), world oil prices edged up slightly. According to data from Oilprice, at 9:29 a.m. on July 2 (Vietnam time), Brent oil prices were listed at $67.19/barrel, up 0.12%. WTI oil prices were at $65.49/barrel, up 0.06% compared to the previous session.
In the domestic market, according to the price management cycle, the Ministry of Industry and Trade - Ministry of Finance will announce new retail gasoline prices tomorrow.
Based on the world oil price trend, oil companies believe that domestic gasoline prices may drop sharply tomorrow.
Specifically, if the executive agency does not affect the Price Stabilization Fund Gasoline price Domestic gasoline prices tomorrow may decrease by 1,230-1,430 VND/liter, while diesel prices may decrease by about 920-1,050 VND/liter.
If the regulator uses the Price Stabilization Fund, gasoline prices could fall further.
If forecasted, domestic RON 95 gasoline prices will decrease for the second consecutive session tomorrow after five sessions of increase.
In the most recent operating period (July 1 - the time the policy of reducing value added tax (VAT) took effect - the operating agency decided to reduce 128 VND/liter for RON 95 gasoline (the popular type on the market), the retail price was not higher than 21,116 VND/liter.
Similarly, the price of E5 RON 92 gasoline was adjusted down by VND101/liter, the retail price is not higher than VND20,530/liter.
Meanwhile, diesel price increased by 193 VND/liter, selling price is not higher than 19,349 VND/liter.
| Product | Price from 1/7/2025 (unit: VND/liter) | Compare with previous period |
| Gasoline RON 95-III | 21,116 | - 128 |
| E5 RON 92 gasoline | 20,530 | - 101 |
| Diesel | 19,349 | + 193 |
Gasoline price list for the operating period July 1, 2025.
Source: https://baoquangninh.vn/gia-xang-ngay-mai-co-kha-nang-giam-manh-3365017.html
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