Gasoline and oil prices today February 2, 2025: In the first operating session of the lunar year At Ty 2025, domestic gasoline and oil prices decreased simultaneously.
Gasoline price today February 2, 2025
Recorded on Oilprice at 4:30 a.m. on February 2, 2025 (Vietnam time), WTI oil price was at 73.81 USD/barrel, down 0.27% (equivalent to a decrease of 0.20 USD/barrel).
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| WTI oil price on the world market early morning February 2, 2025 (Vietnam time) |
Similarly, Brent oil price was at 76.5 USD/barrel, down 0.29% (equivalent to a decrease of 0.22 USD/barrel).
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| Brent oil price on the world market early morning February 2, 2025 (Vietnam time) |
Last week, Brent and WTI crude oil prices fell 2.1% and 2.9%, respectively, marking their second consecutive weekly decline. Against this backdrop, US President Donald Trump plans to announce a process for Canada and Mexico to apply for tariff exemptions on certain imported goods, effective March 1. However, the White House has confirmed that the February 1 deadline remains the same, and there has been no update on the exemptions.
Crude oil prices remain volatile as traders watch for the impact of Trump’s tariff threats, said Dennis Kissler, vice president of BOK Financial. Canadian crude, a major feedstock for U.S. refineries, could push up fuel prices if supplies are cut. Canada and Mexico are the two largest exporters of oil to the U.S., but it’s unclear whether crude will be included in the tariffs. Trump will decide soon on whether to exempt imported oil, he said.
Energy Aspects analyst Livia Gallarati warned that tariffs could have a major impact on US refining. Meanwhile, Canadian Prime Minister Justin Trudeau said he would respond strongly if the US imposed tariffs, warning Canadians of the potential hardships.
Also this week, the market is focusing on the OPEC+ meeting scheduled for February 3, with expectations that OPEC+ will stick to its plan to gradually increase production, despite pressure from Mr. Trump. At the same time, the number of US oil rigs increased by 7, to 479, indicating that oil production will continue to increase in the coming time.
Domestic retail gasoline prices on February 2, 2025 will be applied according to the adjustment session from 3:00 p.m. on February 1 by the Ministry of Finance - Ministry of Industry and Trade.
Item | Price (VND/liter/kg) | Difference from previous period |
E5 RON 92 gasoline | 21,000 | -140 |
RON 95 gasoline | 20,390 | -200 |
Diesel | 19,240 | -950 |
Oil | 19,430 | -608 |
Fuel oil | 17,500 | -250 |
Specifically, the price of RON 95-III gasoline (a popular type on the market) decreased by VND140, to VND21,000 per liter. E5 RON 92 also decreased by VND200, to VND20,390. Similarly, oil products decreased by VND250-950 per liter or kilogram. Compared to 7 days ago, diesel decreased by VND950, to VND19,240. Kerosene and fuel oil have new prices of VND19,430 and VND17,500, respectively.
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| Gasoline prices today February 2, 2025. Photo by Dinh Tuan |
According to information from the Ministry of Industry and Trade, the world oil market in this operating period (from January 23, 2025 to January 31, 2025) is affected by factors such as: increased US crude oil reserves, tax policies issued by the US President for some countries, the upcoming meeting of OPEC+ on the plan to increase supply, the ongoing military conflict between Russia and Ukraine...
The above factors have caused world oil prices to increase and decrease in recent days depending on the product, but the general trend is downward.
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
Thus, from the beginning of 2025 until now, domestic gasoline prices have undergone 5 adjustment sessions, including 1 decrease, 3 increases and 1 opposite session.
Source: https://congthuong.vn/gia-xang-dau-hom-nay-02022025-cung-giam-sau-ky-nghi-tet-371868.html
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