Gasoline prices today April 5, 2025: Drowning in red

Oil prices today April 5, 2025: Crude oil prices plunged nearly 8% as China retaliated with tariffs against the US.

Gasoline price today April 5, 2025

Recorded on Oilprice at 4:00 a.m. on April 5, 2025 (Vietnam time), WTI oil price was at 62.46 USD/barrel, down 6.50% (equivalent to a decrease of 4.35 USD/barrel).

WTI oil price on the world market in the early morning of April 5, 2025 (Vietnam time)

Similarly, Brent oil price was at 65.90 USD/barrel, down 6.03% (equivalent to a decrease of 4.23 USD/barrel).

Brent oil price on the world market early morning April 5, 2025 (Vietnam time)

Crude oil prices plunged nearly 8%, heading for their lowest close since the middle of the pandemic in 2021, as China ramped up tariffs on U.S. goods in the most serious escalation of the global trade war, prompting investor fears of a recession.

China announced it would impose an additional 34% tariff on all US goods from April 10. Countries around the world have been preparing plans after Mr Trump raised tariffs to their highest level in more than a century, leading to a plunge in global financial markets.

Brent crude futures fell $5.55, or 7.9%, to $64.59 a barrel at 10:39 a.m. ET (14:39 GMT). U.S. West Texas Intermediate (WTI) crude futures lost $5.87, or 8.8%, to $61.04 a barrel. Earlier in the session, Brent and WTI fell to $64.15 and $60.81 a barrel, respectively, their lowest levels in four years.

Both oil benchmarks are on track for their biggest weekly percentage declines in more than two years.

“The real test, of course, will be whether retaliatory tariffs materialize and deal a blow to global oil demand (which the market is currently pricing in) or whether this is just another ‘silver lining’ negotiating tactic from the Trump team,” said Dennis Kissler, senior vice president of trading at BOK Financial. “One thing is for sure, uncertainty is likely to continue to be a price drag on crude over the next few trading days,” Kissler added.

Investment bank JP Morgan said it now sees a 60% chance of the global economy falling into recession by the end of the year, up from 40% previously.

Fueling the sell-off was the decision by the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, to accelerate plans to increase production. The group now aims to add 411,000 barrels per day (bpd) to the market in May, up from an initial plan of 135,000 bpd.

Another factor weighing on prices was the news that the Caspian Pipeline Corporation (CPC) said a Russian court had ruled that its Black Sea export facilities should not be suspended, a decision that could prevent a potential cut in Kazakhstan’s oil production and supply via CPC.

Imports of oil, gas and refined products have been exempted from Mr Trump’s sweeping new tariffs, but the policies could fuel inflation, slow economic growth and intensify trade disputes, putting pressure on oil prices.

Goldman Sachs analysts responded by sharply cutting their December 2025 targets for Brent and WTI, each by $5 to $66 and $62, respectively.

“The risks to our reduced oil price forecasts are to the downside, particularly for 2026, due to rising recession risks and, to a lesser extent, higher OPEC+ supply,” the bank’s head of oil research, Daan Struyven, said in a note.

HSBC has revised down its 2025 global oil demand growth forecast from 1 million barrels per day to 0.9 million barrels per day, citing tariffs and the OPEC+ decision.

Domestic gasoline prices today April 5, 2025

Domestic retail gasoline prices on April 5, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 3 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	20,373	+341
RON 95 gasoline	20,919	+495
Diesel	18,478	+261
Oil	18,735	+211
Fuel oil	17,026	+124

Specifically, the price of E5 RON 92 gasoline increased by VND341/liter, to VND20,373/liter; RON 95 gasoline increased by VND495/liter, to VND20,919/liter.

Similarly, the price of diesel 0.05S: Increased by 261 VND/liter, to 18,478 VND/liter; kerosene increased by 211 VND/liter, to 18,735 VND/liter; mazut 180CST 3.5S increased by 124 VND/kg, to 17,026 VND/kg.

Gasoline prices today April 5, 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 14 adjustment sessions, including 5 decrease sessions, 6 increase sessions and 3 opposite sessions.

Ngoc Hung

Source: https://congthuong.vn/gia-xang-dau-hom-nay-05042025-ngap-chim-trong-sac-do-381597.html