Will gasoline prices rise again tomorrow?

According to the plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline and diesel prices according to the cycle tomorrow (June 26).

The leader of a major petroleum distribution company in the South said that world crude oil prices continued to rise after the previous price adjustment. However, prices plummeted sharply after US President Donald Trump announced that Iran and Israel had agreed to a ceasefire.

On June 24th, the price of imported gasoline in the Singapore market was $82.55 per barrel for RON 95 gasoline, down nearly $5 per barrel compared to six days earlier; RON 92 gasoline was at $80.74 per barrel, down more than $5 per barrel. It is likely that domestic gasoline prices will increase further in tomorrow's price adjustment, but the increase will be less than in the previous adjustment.

Specifically, gasoline prices are expected to increase by approximately 300-400 VND/liter, while diesel prices may increase by 500-600 VND/liter. If the Ministry of Industry and Trade and the Ministry of Finance utilize the Price Stabilization Fund, the increase in gasoline prices may be smaller.

The owner of a petroleum distribution business in the North also predicted that gasoline and diesel prices would continue to rise in tomorrow's price adjustment. On June 24th, fuel discounts at some depots remained very low, at 100-200 VND/liter, and in some places even at 0 VND.

If the forecast is correct, the price of RON 95 gasoline in Vietnam will increase for the fifth consecutive session. Currently, the price of this fuel remains at its lowest level in the past four years, equivalent to the level in June 2021. From the beginning of the year until now, RON 95 gasoline has increased 14 times and decreased 11 times. Diesel fuel has increased 13 times, decreased 11 times, and remained unchanged once.

In the most recent price adjustment on June 19th, the regulatory agency decided to increase the price of E5 RON 92 gasoline by 1,170 VND/liter to 20,630 VND/liter; RON 95 gasoline also increased by 1,280 VND/liter to 21,240 VND/liter. Meanwhile, diesel increased by 1,450 VND/liter to 19,150 VND/liter, kerosene increased by 1,410 VND/liter to 18,920 VND/liter; and mazut increased by 1,180 VND/kg to 17,640 VND/kg.

On the global market, during trading on June 24, oil prices fell nearly 6%, reaching their lowest level in two weeks, due to expectations that a ceasefire between Israel and Iran would help reduce the risk of supply disruptions in the region, according to Reuters.

Oil prices also fell when US President Donald Trump posted on the social media platform Truth Social that China, the world's second-largest economy after the US, could continue buying oil from Iran.

In addition, Kazakhstan's state-owned energy company KazMunayGaz said that production from Chevron's Tengiz oil field could reach 35.7 million tons this year, higher than previous forecasts, thanks to plans to increase output. Kazakhstan is a member of OPEC+, which includes the Organization of Petroleum Exporting Countries (OPEC) and its allies.

According to analysts, increased OPEC+ production, combined with the prospect of reduced demand due to the impact of US tariffs, is the factor keeping the oil market under pressure.

Data from Trading Economics shows that at 1:00 AM on June 25th, WTI crude oil was trading at $64.56 per barrel, down 12.71% from the previous week; similarly, Brent crude oil was also at $67.36 per barrel, down 12.77%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-mai-se-tang-tiep-20250625012504758.htm