Domestic gasoline prices today March 25, 2024
In the domestic market, the selling price of gasoline and oil today, March 25, is applied according to the price of the operating session on the afternoon of March 21.
Accordingly, the retail prices of petroleum products were adjusted by the Ministry of Finance - Industry and Trade in the direction of sharply increasing gasoline prices.
Specifically, the price of E5 gasoline was raised to 23,210 VND/liter. The price of RON95 gasoline increased to 24,280 VND/liter.
Meanwhile, the retail price of diesel increased to VND21,010/liter. The price of kerosene increased to VND21,260/liter.
Retail price of gasoline today:
| Item | Price from March 21 (unit: VND/liter) | Compared to previous period |
| Gasoline RON 95-III | 24,280 | + 740 |
| Gasoline E5 RON 92-II | 23,210 | + 720 |
| Diesel | 21,010 | + 470 |
| Oil | 21,260 | + 560 |
World oil prices today March 25, 2024
On the world market, gasoline prices today, March 25, regained momentum after 3 sessions of decline at the end of last week.
Data from Oilprice shows that at 8:56 a.m. on March 25 (Vietnam time), Brent crude oil was trading at $85.88 per barrel, up $0.45, or 0.53%, from the previous session. WTI crude oil was at $81.11 per barrel, up $0.48, or 0.6%, from the previous session.
World oil prices last week recorded a week of mixed developments with Brent slightly increasing and WTI slightly decreasing.
The main factors affecting oil price fluctuations last week were reduced crude oil exports from Iraq and Saudi Arabia, reduced capacity at Russian refineries, and the US Federal Reserve (Fed) keeping interest rates unchanged.
Oil prices jumped about 2% in the first trading session of the week, supported by lower crude oil exports from Iraq and Saudi Arabia while demand in China and the US showed signs of increasing.
The rise in oil prices continued in the second trading session of the past week. At the end of this session, Brent crude oil prices increased to 87.38 USD/barrel - the highest level in nearly 5 months. WTI crude oil prices also increased to 83.47 USD/barrel - the highest level since October 27, 2023.
Oil prices continued to rise as traders speculated that recent attacks on Russian refineries would impact global petroleum supplies. According to Reuters calculations, the Ukrainian attacks on Russian refineries have reduced Russia’s refining capacity by 7%, or about 370,500 barrels per day.
However, the upward momentum of oil prices could not be maintained in the third trading session of last week. The Fed's decision to keep interest rates at 5.25-5.5% pushed oil prices down. Because many people are concerned that interest rates in the US will remain high for a long time, slowing economic growth and possibly limiting demand in the world's leading oil consuming country.
Limiting oil prices' decline in this session was data from the US Energy Information Administration (EIA) showing that US crude oil inventories in the week ending March 15 fell for the second consecutive week.
The decline in oil prices continued into the last two trading sessions of the past week. Hopes for a ceasefire in Gaza and weaker US oil demand data continued to push oil prices lower.
Thus, with 2 sessions of high increase and 3 sessions of slight decrease, oil prices last week marked a mixed week. Overall, Brent oil prices increased by 0.09 USD/barrel while WTI oil prices decreased by 0.41 USD/barrel.
Closing last week, Brent oil price was fixed at 85.43 USD/barrel, WTI oil price ended the week at 80.63 USD/barrel.
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