World oil prices fell last week. Overall, last week, Brent crude oil prices fell by $1.25/barrel to $73.18/barrel. WTI crude oil prices fell by $0.64/barrel, ending the week at $69.76/barrel.

This week, world oil prices continued to fall sharply in the first trading session (March 3), down to the lowest level in 12 weeks.

Oil prices plunged after the market digested news that OPEC+ will proceed with a planned oil production increase in April and concerns that US tariffs could hurt global economic growth and oil demand.

gasoline 1 413 7553.jpg
Domestic gasoline prices may drop sharply tomorrow. Photo: Anh Nguyen

In the trading session on March 4, world oil prices continued to slide, reaching a 6-month low. OPEC+ increased production in April, the US imposed tariffs on imports from Canada, Mexico, China, and Beijing's retaliatory tariffs were factors that pushed oil prices down.

At the beginning of today's trading session (March 5), world oil prices continued to decline. According to data from Oilprice, at 8:00 a.m. on March 5 (Vietnam time), Brent oil price was listed at 71.04 USD/barrel, down 0.81%. Meanwhile, WTI oil price was at 67.83 USD/barrel, down 0.63% compared to the previous session.

In the domestic market, according to plan, the Ministry of Industry and Trade - Ministry of Finance will adjust retail gasoline prices periodically tomorrow (March 6).

Some petroleum businesses believe that domestic gasoline prices in tomorrow's adjustment period may be adjusted down sharply following the trend of world gasoline prices.

Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by about 700-800 VND/liter.

Similarly, diesel prices are likely to be adjusted down by about VND580-620/liter.

In case the regulatory agency draws from the Stabilization Fund, gasoline prices may decrease less.

If the above forecast is correct, domestic gasoline prices will decrease for the second consecutive session.

In the most recent adjustment period (February 27), RON 95 gasoline price decreased by 220 VND/liter, selling price was 21,110 VND/liter.

Similarly, the price of E5 gasoline was also adjusted down by VND200/liter, the selling price was VND20,650/liter.

In the same trend, diesel price was adjusted down by 110 VND/liter, selling price at 18,950 VND/liter.

Product Price from February 27, 2025 (unit: VND/liter) Compare with previous period
Gasoline RON 95-III 21,110 -220
E5 RON 92 gasoline 20,650 -200
Diesel 18,950 - 110

Gasoline price list at operating period 27/2/2025.

Gasoline prices fell across the board, RON 95 fell close to 21,000 VND/liter. The price of RON 95 gasoline at today's adjustment period (February 27) was adjusted down after two consecutive increases, falling close to 21,000 VND/liter. Diesel prices also fell slightly. Only fuel oil prices increased slightly.