The highest increase in the past 5 weeks.

Today's world oil prices

Crude oil prices surged by approximately 2% in the final trading session of March, reaching a five-week high. This was primarily driven by concerns about supply disruptions if US President Donald Trump carried out his threats to impose additional tariffs on Russia or attack Iran.

At the close of trading on March 31, Brent crude rose 1.5% to $74.74 per barrel. US WTI crude surged even more, rising 3.1% to $71.48 per barrel. This was the highest closing price for Brent crude since February 24 and for WTI crude since February 20.

On the morning of April 1st, the market saw a slight adjustment. As of 7:10 AM Vietnam time, Brent crude oil prices remained virtually unchanged at $74.71 per barrel. Meanwhile, WTI crude oil prices fell slightly by 0.13%, to $71.4 per barrel.

The price difference between Brent and WTI crude oil has now narrowed to $3 per barrel – the lowest level since July 2024. Experts believe that when this difference falls below $4, exporting US oil by sea will no longer be economically viable, potentially reducing US oil exports in the near future.

Geopolitical tensions continue to dominate the markets. President Trump recently stated his dissatisfaction with Russian President Putin's stance on Ukraine, and threatened to impose tariffs of 25-50% on countries buying oil from Russia if Moscow hinders US peace efforts. Regarding Iran, Trump also warned of the possibility of using force if no agreement is reached on its nuclear program.

In response to these statements, Iran's Supreme Leader Ayatollah Ali Khamenei declared that the US would face a "heavy blow" if it dared to act. At the same time, the Iranian Revolutionary Guard seized two foreign oil tankers in the Persian Gulf, carrying over 3 million liters of suspected smuggled diesel fuel.

Nevertheless, some analysts still believe that the likelihood of Trump carrying out these threats is low. This is contributing to curbing the rise in oil prices, according to Reuters.

Domestic fuel prices today

On the afternoon of March 27th, the Ministry of Industry and Trade and the Ministry of Finance announced adjustments to retail fuel prices. Accordingly, the prices of all products increased slightly, except for fuel oil (mazut).

Specifically, the prices of E5 RON92 and RON95 gasoline both increased by 337 VND/liter, reaching 20,032 VND/liter and 20,424 VND/liter respectively. Diesel fuel increased by 324 VND/liter, to 18,217 VND/liter. Kerosene increased by 406 VND/liter, to 18,524 VND/liter. Mazut fuel, however, decreased by 53 VND/kg, currently at 16,902 VND/kg.

The new prices will take effect from 3 PM on March 27, 2025.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-1-4-2025-tang-cao-nhat-5-tuan-qua-3151866.html