Domestic gasoline prices today May 25, 2024

In the domestic market, the selling prices of gasoline and oil today, May 25, are applied according to the prices at the management session on the afternoon of May 23 of the Ministry of Finance - Industry and Trade.

Accordingly, the price of gasoline and oil was adjusted by the Ministry of Industry and Trade - Ministry of Finance in the direction of increasing gasoline prices, decreasing diesel prices, and keeping kerosene prices unchanged.

Specifically, the price of E5 gasoline increased to 22,270 VND/liter. The price of RON 95 gasoline increased to 23,210 VND/liter.

In contrast, diesel prices were adjusted down to VND19,830/liter. Kerosene prices were kept at VND19,900/liter.

Retail price of gasoline today:

Item Price from May 23 (unit: VND/liter) Compared to the previous period
RON 95-III gasoline 23,210 +80
E5 RON 92-II gasoline 22,270 + 160
Diesel 19,830 - 40
Oil 19,900 + 0

World oil prices today May 25, 2024

In the world market, gasoline prices today, May 25, continued to rise following the recovery trend from the previous session.

Data from Oilprice shows that at 8:31 a.m. on May 25 (Vietnam time), Brent oil price was listed at 82.12 USD/barrel, up 0.93% compared to the previous session. WTI oil price was at 77.72 USD/barrel, up 1.11% compared to the previous session.

On May 24, world oil prices broke the downward trend from the beginning of the week.

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Gasoline prices tend to recover. Photo: ThoughtCo

According to data from Oilprice, at 9:29 p.m. on May 24 (Vietnam time), Brent oil price was listed at $81.88/barrel, up 0.64% compared to the previous session. WTI oil price was at $77.55/barrel, up 0.88% compared to the previous session.

According to analysts, increased demand for gasoline in the US has had a positive impact on the "black gold" market.

The US Energy Information Administration (EIA) said gasoline demand in the US in the week ending May 17 reached its highest level since November last year.

Analysts at ANZ Bank said US gasoline consumption accounts for about 10% of global oil demand, making the upcoming US summer a key pillar of the recovery in global oil demand growth.

Investors are focusing on the June 1 meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to see how the group will decide on its production policy and whether to extend its oil production cut program of 2.2 million barrels per day.

Many believe that the recent weakness in oil prices increases the likelihood that OPEC+ will maintain current production restrictions at least until the end of September.

Russia said it exceeded its OPEC+ production quota in April for “technical reasons”.

However, the prospect of US interest rates remaining high for longer has raised concerns that demand in the world's biggest oil consumer could fall, limiting oil's upside.

Gasoline prices today, May 24, 2024, continue to decline, Brent oil is at 81 USD/barrel . Gasoline prices today, May 24, 2024, on the international market continue to decline following the downward trend from the beginning of the week. Meanwhile, in the domestic market, gasoline prices were adjusted up, diesel prices decreased since yesterday afternoon.