Gasoline prices continue to go down, some types fall almost 700 vnd/liter

The Ministry of Industry and Commerce – Ministry of Finance has just adjusted the retail price of gasoline and oil in today’s adjustment period (May 8). Applicable schedule from 3:00 p.m. May 8, 2025.

Specifically, the price of gasoline E5 Ron 92 decreased 377 vnd/liter, to 18,777 vnd/liter; RON 95 gasoline decreased 407 Vnd/Litro, to 19,179 Vnd/Litro.

The price of diesel 0.05s decreased 550 Vnd/Litro, to 16,809 Vnd/Litro; The kerosene decreased 623 vnd/liter, up to 16,941 vnd/liter; The price of 180cst 3.5s mazut oil decreased 665 Vnd/kg, to 15,533 Vnd/kg.

During this operating period, the Ministry of Industry and Commerce – Ministry of Finance did not reserve or use the Petroleum Price Stabilization for gasoline E5RON92, RON95 gasoline, diesel, kerosene and fueloil.

According to the Ministry of Industry and Commerce, the average price of oil products finished in the world between the price adjustment period of May 5, 2025 and the adjustment period of May 8, 2025 is: 73,280 USD/Ron92 gasoline barrel used to mix E5Ron92 gasoline (a decrease of USD/barrel, equivalent to a decrease of 2.61%); 74,863 USD/RON95 gasoline barrel (low of 1,985 USD/Barril, equivalent to a 2.58%decrease); 76,780 USD/QUEROSENE Barril (Low 3,368 USD/Barril, equivalent to a decrease of 4.20%); 76,770 USD/0.05s diesel barrel (low of 2,950 USD/barrel, equivalent to a 3.70%decrease); 405,157 USD/Ton of Fueloil 180cst 3.5S (Bass 22,473 USD/Ton, equivalent to a decrease of 5.26%).

In the world market, at 6:00 on May 8, the price of Brent oil stood at 61.60 USD/Barril, continuing a 0.84%drop, which is equivalent to a decrease of 0.52 USD/Barril. Similarly, the WTI oil price stood at 58.69 USD/Barril, a 0.63%drop, equivalent to a decrease of USD/Barril.

Both reference indices fell to a minimum of four years this week after OPEC+ decided to accelerate the increase in production, which fueled concerns about excess supply at a time when US tariffs have joined the concerns about demand.

However, some American producers have indicated that they will cut spending, warning that the country’s oil production may have reached its maximum point, which is also contributing to market recovery.

However, according to experts, volatility is expected to continue as OPEC+ supply increases faster than expected, while US politics remains unpredictable. In addition, the conflict in the Middle East between Israel and the huti forces increases geopolitical risks.

The analysts surveyed by Reuters expected on average that the United States crude oil inventories fell into 800,000 barrels last week.

Previously, in the operating period of May 5, 2025 of the Ministry of Industry and Commerce – Finance, gasoline prices were adjusted, specifically, the price of gasoline E5 Ron 92 decreased by 84 Vnd/Litro, up to 19,154 Vnd/Liter; RON 95 gasoline decreased 52 Vnd/Litro, to 19,586 Vnd/Liter.

The price of diesel 0.05s decreased 165 Vnd/liter, to 17,359 vnd/liter; The kerosene decreased 151 vnd/liter, to 17,564 vnd/liter; The price of 180cst 3.5s mazut oil decreased 326 VND/kg, to 16,198 vnd/kg.

During this operating period, the Ministry of Industry and Commerce – Ministry of Finance did not reserve or use the E5RON92 petroleum price stabilization fund, gasoline RON95, diesel, chest and Mazut oil.