Increase both domestically and internationally.

On the world market, oil prices have also risen sharply due to a number of geopolitical and economic factors.

According to Oilprice's update at 7:30 AM Vietnam time, WTI crude oil prices rose by $1.10 per barrel, or 1.64%, to $68.26 per barrel. Brent crude oil also increased by $1.22 per barrel, or 1.72%, to $72.00 per barrel.

The main reason for the rise in oil prices is the recent imposition of new sanctions by the US on Iran. These measures target several entities in China and oil tankers, tightening supply.

In addition, OPEC+ also announced plans to continue production cuts for seven countries, with reductions ranging from 189,000 to 435,000 barrels per day. This plan is expected to last until June 2026 to control global supply and stabilize the market.

In the US, a new report showed that crude oil inventories increased by 1.7 million barrels, while inventories of refined fuels such as heating oil and diesel decreased by 2.8 million barrels. This development has further fueled market concerns about supply-demand imbalances.

The geopolitical situation in the Middle East is also becoming more tense, especially after Israel expanded its military campaign in Gaza. These developments further increase global risks, pushing oil prices even higher.

In the short term, Brent crude oil prices are projected to surge to $70-$75 per barrel before returning to an average of around $73 this year.

From 3 PM on March 20th, domestic fuel prices continued to be adjusted, with gasoline and kerosene increasing in price, while diesel remained at the previous level.

RON 95-III gasoline, the most common type on the market, increased by 440 VND/liter, reaching 20,080 VND/liter. E5 RON 92 gasoline also increased by 410 VND/liter, reaching 19,690 VND/liter.

Meanwhile, diesel fuel remained unchanged at 17,890 VND/liter. Kerosene increased slightly to 18,110 VND/liter, while fuel oil decreased slightly to 16,950 VND/kg.

The operator said that fuel prices fluctuated last week due to a number of factors, including a decrease in US gasoline inventories, escalating tensions in the Middle East, and US tariff policies on imported goods.

Over the past 7 days, the average price of refined gasoline worldwide has increased by 2.7-2.8%, while the price of oil (excluding diesel) has decreased slightly by 0.2-0.5%. Currently, each barrel of RON 95 gasoline is priced at $80.8, diesel at $84.1, and fuel oil at $462.6 per ton.

From May 2nd, the Ministry of Industry and Trade will directly announce gasoline and diesel prices according to Circular 18. This new operating mechanism eliminates the role of the inter-ministerial committee of Finance and Industry and Trade; instead, retail prices will be determined based on input data and the operational opinions of the Ministry of Finance.

The fuel products for which the Ministry of Industry and Trade has announced prices include E5 bio-gasoline, RON 95-III mineral gasoline, diesel fuel, kerosene, and fuel oil.

In addition, new regulations regarding fuel storage reporting have been added. Wholesale businesses and distributors with leased or rented fuel storage facilities must report quarterly on total capacity, production volume, and lease status. This aims to ensure transparency and stability of supply in the market.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-21-3-2025-tang-ca-trong-nuoc-va-quoc-te-3151077.html