Gasoline prices today April 18, 2025: Strong increase across the board

Specifically, WTI oil price increased by 2.21 USD/barrel, equivalent to 3.54%, to 64.68 USD/barrel.

Brent crude oil prices also increased by 2.11 USD/barrel, equivalent to 3.20%, reaching 67.96 USD/barrel. This is the first time in three weeks that world oil prices have had a clear increase.

The main reason came from positive signals in the meeting between US President Donald Trump and Italian Prime Minister Giorgia Meloni, when both showed goodwill to ease trade tensions between the US and the EU. This raised expectations that global energy demand would not decline as sharply as previously feared.

At the same time, the US announced new sanctions targeting small Chinese refineries and some shipping companies involved in importing oil from Iran. This development increased the risk of supply shortage in the oil market.

In addition, OPEC confirmed that it had received plans to cut production from some members such as Iraq and Kazakhstan, with a reduction of 196,000 to 520,000 barrels/day, applicable from now until mid-2026. In the US, gasoline and distillate inventories also fell last week, contributing to strengthening the price increase.

Despite the support for oil prices from a number of factors, major organizations such as OPEC, the IEA, Goldman Sachs and JPMorgan have maintained a cautious stance, saying that global oil demand may grow more slowly than expected due to trade uncertainty, tariffs and tit-for-tat measures between major economies.

Domestic gasoline prices on April 18, 2025 continued to be adjusted down sharply compared to the previous adjustment period. Specifically, the price of E5 RON 92 gasoline decreased by VND 1,491/liter, currently at VND 18,882/liter. RON 95 gasoline also decreased sharply by VND 1,712/liter, down to VND 19,207/liter.

Prices of all types of oil also decreased simultaneously. Diesel oil decreased by 1,235 VND/liter, to 17,243 VND/liter. Kerosene decreased by 1,322 VND/liter, to 17,413 VND/liter. Fuel oil decreased by 1,124 VND/kg, currently at 15,902 VND/kg.

During this period, the Ministry of Industry and Trade and the Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for all products. This is a significant price reduction after many fluctuating sessions, reflecting the trend of adjusting to world prices.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-18-4-2025-dong-loat-tang-manh-3153035.html