Gasoline price today April 2, 2025: Continues to stay at high level

Oil prices today 04/02/2025: Oil prices stabilize near $75 as the market weighs tariffs, sanctions

Gasoline price today April 2, 2025

Recorded on Oilprice at 4:00 a.m. on April 2, 2025 (Vietnam time), WTI oil price was at 71.55 USD/barrel, up 0.08% (equivalent to an increase of 0.06 USD/barrel).

WTI oil price on the world market in the early morning of April 2, 2025 (Vietnam time)

Similarly, Brent oil price was at 74.85 USD/barrel, up 0.13% (equivalent to an increase of 0.10 USD/barrel).

Brent oil price on the world market early morning April 2, 2025 (Vietnam time)

Oil prices steadied near five-week highs, as U.S. President Donald Trump’s threats to impose secondary tariffs on Russian crude and attack Iran countered concerns about the impact of the trade war on global growth.

Brent crude futures rose 3 cents, or 0.04%, to $74.80 a barrel by 1352 GMT, after rising above $75 a barrel earlier in the session. U.S. West Texas Intermediate (WTI) crude futures rose 4 cents, or 0.06%, to $71.52 a barrel.

Contracts had closed at a five-week high a day earlier.

“While stricter sanctions on Iran, Venezuela and Russia could constrain global supply, US tariffs are likely to dampen global energy demand and slow economic growth, which will further weigh on future oil demand,” said SEB analyst Ole Hvalbye.

“Therefore, betting on a clear direction for the market has been and continues to be a challenge,” he added .

On Sunday, Mr. Trump told NBC News that he was very angry with Russian President Vladimir Putin and would impose secondary tariffs of 25% to 50% on buyers of Russian oil if Moscow tried to obstruct efforts to end the war in Ukraine.

Tariffs on oil buyers from Russia, the world's second-largest oil exporter, would disrupt global supplies and hurt Moscow's biggest customers, China and India.

Mr Trump also threatened Iran with similar tariffs and bombings if Tehran did not reach a deal with the White House over its nuclear program.

A Reuters poll of 49 economists and analysts in March predicted that oil prices would remain under pressure this year from U.S. tariffs and economic slowdowns in India and China, while OPEC+ increases supply.

Slower global growth will reduce fuel demand, which could offset any drop in supply caused by Mr Trump's threats.

Oil prices received some support after Russia ordered the closure of two of the three berths at Kazakhstan's main oil export port amid tensions between Kazakhstan and OPEC+ - the Organization of the Petroleum Exporting Countries and its Russia-led allies - over excess production.

As a result, Kazakhstan will have to start cutting oil production, two industry sources told Reuters. Another source said repair work at the Caspian Pipeline Complex terminal would take more than a month.

The market will be watching the OPEC+ ministerial committee meeting on April 5 to consider policy. Sources told Reuters that OPEC+ is on track to raise output by 135,000 barrels per day in May. OPEC+ has agreed to a similar increase for April.

Meanwhile, five analysts surveyed by Reuters estimated on average that U.S. crude inventories fell by about 2.1 million barrels in the week to March 28.

Domestic gasoline prices today April 2, 2025

Domestic retail gasoline prices on April 2, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 27 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	20,032	+337
RON 95 gasoline	20,424	+337
Diesel	18,217	+324
Oil	18,524	+406
Fuel oil	16,902	-53

Specifically, the price of E5 RON 92 gasoline increased by VND337/liter, to VND20,032/liter; RON 95 gasoline increased by VND337/liter, to VND20,424/liter.

Similarly, the price of diesel 0.05S: increased by 324 VND/liter, to 18,217 VND/liter; kerosene increased by 406 VND/liter, to 18,524 VND/liter; mazut 180CST 3.5S decreased by 53 VND/kg, to 16,902 VND/kg.

Gasoline prices today April 2, 2025. Photo by Dinh Tuan

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 to now, domestic gasoline prices have undergone 13 adjustment sessions, including 5 decrease sessions, 5 increase sessions and 3 opposite sessions.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-02042025-tiep-tuc-neo-o-muc-cao-381044.html