World oil prices last week recorded their second consecutive week of decline. Overall, last week, Brent crude oil prices fell 2.1%, while WTI crude oil prices fell 2.9%.

This week, world oil prices turned slightly higher in the first trading session (February 3), but still closed at a one-month low in the context of the market receiving US President Donald Trump's plan to impose tariffs on Canada, Mexico and China.

At the end of the trading session on February 4, world oil prices were mixed. WTI crude oil prices decreased slightly, while Brent crude oil prices increased slightly. World oil prices moved in opposite directions due to tariff tensions between Washington and Beijing, especially after Mr. Donald Trump resumed the "maximum pressure" campaign on Iran with the aim of reducing Iran's oil exports to zero.

At the beginning of today's trading session (February 5), world oil prices remained mixed, in the context of a sharp increase in US gasoline and oil inventories.

According to data from Oilprice, at 7:44 a.m. on February 5 (Vietnam time), Brent oil price was listed at 76.2 USD/barrel, up 0.32%. Meanwhile, WTI oil price was at 72.7 USD/barrel, down 0.03% compared to the previous session.

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Domestic gasoline prices are forecast to increase slightly tomorrow. Photo: Anh Nguyen

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

Based on the developments in world oil prices, some oil companies believe that domestic gasoline prices at the February 6 adjustment period may be adjusted upward.

Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices may increase by about 200-230 VND/liter.

Meanwhile, diesel prices are likely to decrease by about VND30 per liter.

In case the executive agency spends the Stabilization Fund, gasoline prices may increase less or remain the same.

If the above forecast is correct, domestic RON 95 gasoline prices will reverse to increase after a decrease at the end of last week.

In the most recent adjustment period (February 1), the prices of all types of gasoline and oil were adjusted down.

Of which, the price of E5 gasoline was adjusted down by 200 VND/liter, to 20,390 VND/liter. The price of RON 95 gasoline also decreased by 140 VND/liter, selling price is 21,000 VND/liter.

Similarly, diesel price was adjusted down to 950 VND/liter, selling price to 19,240 VND/liter.

Product Price from 1/2/2025 (unit: VND/liter) Compare with previous period
Gasoline RON 95-III 21,000 - 140
E5 RON 92 gasoline 20,390 - 200
Diesel 19,240 - 950

Gasoline price list for the operating period 1/2/2025.

Gasoline prices have decreased across the board, with some types decreasing by nearly VND1,000/liter . The price of RON 95 gasoline in today's adjustment period (February 1) was adjusted down for the second consecutive time, to VND21,000/liter.