Will gas prices increase again tomorrow?

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

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

On June 24, the price of imported gasoline in the Singapore market was at 82.55 USD/barrel for RON 95 gasoline, down nearly 5 USD/barrel compared to 6 days ago; RON 92 gasoline was at 80.74 USD/barrel, down more than 5 USD/barrel. It is likely that domestic gasoline prices will continue to increase in tomorrow's adjustment period, but the increase will be less than the previous adjustment period.

Specifically, gasoline prices are expected to increase by about 300-400 VND/liter, while diesel may increase by 500-600 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly use the Price Stabilization Fund, gasoline prices may increase less.

The owner of a petroleum distribution company in the North also predicted that petroleum prices will continue to increase in tomorrow's operating period. On June 24, the petroleum discount at some depots was still very low at 100-200 VND/liter, with some places even offering discounts of 0 VND.

If forecasts are correct, domestic RON 95 gasoline prices will increase for 5 consecutive sessions. Currently, this fuel price is still at the lowest level in the past 4 years, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 14 times, decreased 11 times. Diesel has increased 13 times, decreased 11 times and remained unchanged once.

In the most recent adjustment on June 19, the management agency decided to increase the price of E5 RON 92 gasoline by VND1,170/liter to VND20,630/liter; RON 95 gasoline also increased by VND1,280/liter, to VND21,240/liter. Meanwhile, diesel increased by VND1,450/liter to VND19,150/liter, kerosene increased by VND1,410/liter to VND18,920/liter; meanwhile, mazut increased by VND1,180/kg to VND17,640/kg.

In the world market, in the trading session on June 24, oil prices fell nearly 6%, to the lowest level in two weeks due to expectations that a ceasefire between Israel and Iran will 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 to buy oil from Iran.

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

According to analysts, increased output from OPEC+, combined with the prospect of reduced demand due to the impact of US tariffs, are factors that continue to put pressure on the oil market.

Data from Trading Economics shows that at 1:00 a.m. on June 25, WTI oil was trading at $64.56/barrel, down 12.71% from last week; similarly, Brent oil was also at $67.36/barrel, down 12.77%.

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