Gasoline price today 03/06/2025: Forecast to decrease sharply

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Global oil prices fell for a third consecutive day as investors worried about OPEC+'s plan to increase output in April and US President Donald Trump's tariffs on Canada, China and Mexico escalated trade tensions.

Gasoline price today March 6, 2025

Recorded on Oilprice at 4:00 a.m. on March 6, 2025 (Vietnam time), WTI oil price was at 66.11 USD/barrel, down 2.94% (equivalent to a decrease of 2.01 USD/barrel).

WTI oil price on the world market early morning March 6, 2025 (Vietnam time)

Similarly, Brent oil price was at 69.23 USD/barrel, down 2.55% (equivalent to a decrease of 1.81 USD/barrel).

Brent oil price on the world market early morning March 6, 2025 (Vietnam time)

Brent crude futures fell $1.47, or 2.1%, to $69.57 a barrel by 1408 GMT. U.S. West Texas Intermediate (WTI) crude futures fell $1.77, or 2.6%, to $66.49 a barrel.

Contracts closed at multi-month lows the previous day, pressured by expectations that U.S. tariffs and retaliatory tariffs by affected countries will slow economic growth and reduce fuel demand, Reuters reported.

“The US imposition of tariffs on China, Canada and Mexico has triggered swift retaliation from each country, raising concerns about a slowdown in economic growth and the subsequent impact on energy demand,” said Ashley Kelty, an analyst at Panmure Liberum.

Canada and China immediately retaliated against Trump's tariffs on Tuesday, and Mexican President Claudia Sheinbaum said her country would retaliate, but did not elaborate.

Meanwhile, the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, decided on Monday to increase production for the first time since 2022, adding pressure to crude prices.

The group will increase output by 138,000 barrels per day from April, the first step in a plan to increase monthly output to ease the nearly 6 million barrels per day cut, equivalent to nearly 6% of global demand.

"The market was a little concerned that the OPEC+ decision was the start of a series of monthly supply additions, but the statement from OPEC+ reaffirmed the approach of only bringing oil back if the market can absorb it," said UBS analyst Giovanni Staunovo.

Analysts at Morgan Stanley Research said it was likely that OPEC+ would only increase production every few months, rather than completely lifting the cuts.

The Trump administration also said on Tuesday it would terminate a license the United States granted to U.S. oil producer Chevron (CVX.N) from 2022 to operate in Venezuela and export oil.

The decision puts 200,000 barrels per day of supply at risk, ING commodity strategists wrote in a note on Wednesday.

Meanwhile, market sources said, citing data from the American Petroleum Institute on Tuesday, that US crude inventories fell by 1.46 million barrels in the week ended February 28.

Investors are awaiting government data on US stockpiles, due out on Wednesday.

Domestic retail gasoline prices on March 6, 2025 will be applied according to the adjustment session from 3:00 p.m. on February 27 by the Ministry of Finance - Ministry of Industry and Trade.

Item	Price (VND/liter/kg)	Difference from previous period
E5 RON 92 gasoline	20,658	-197
RON 95 gasoline	21,112	-219
Diesel	18,957	-106
Oil	19,335	-178
Fuel oil	17,615	+19

Specifically, the price of E5 RON 92 gasoline decreased by 197 VND/liter, down to 20,658 VND/liter; RON 95 gasoline decreased by 219 VND/liter, down to 21,112 VND/liter.

The price of 0.05S diesel decreased by VND106/liter, down to VND18,957/liter; kerosene decreased by VND178/liter, down to VND19,335/liter.

However, the price of 180CST 3.5S mazut oil increased by 19 VND/kg, to 17,615 VND/kg.

Gasoline prices today March 6, 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 9 adjustment sessions, including 3 decrease sessions, 4 increase sessions and 2 opposite sessions.

Source: https://congthuong.vn/gia-xang-dau-hom-nay-06032025-du-bao-giam-manh-376960.html