Highest increase in the past 5 weeks

World oil prices today

Crude oil prices rose sharply by about 2% in late March, hitting a five-week high, mainly due to concerns about supply disruptions if US President Donald Trump carries out threats to impose additional tariffs on Russia or attack Iran.

At the end of the session on March 31, Brent oil prices increased by 1.5% to 74.74 USD/barrel. US WTI oil increased more strongly, by 3.1%, to 71.48 USD/barrel. This is the highest closing level of Brent oil since February 24 and of WTI oil since February 20.

On the morning of April 1, the market had a slight adjustment. As of 7:10 a.m. Vietnam time, Brent oil price was almost unchanged, remaining at 74.71 USD/barrel. Meanwhile, WTI oil price decreased slightly by 0.13%, to 71.4 USD/barrel.

The spread between Brent and WTI has now narrowed to $3 per barrel – its lowest level since July 2024. Experts say that when this spread falls below $4, exporting US oil by sea will no longer be economically efficient, possibly reducing US oil exports in the near future.

Geopolitical tensions continue to dominate the market. President Trump recently said he was unhappy with Russian President Putin’s attitude towards Ukraine, and threatened to impose a 25–50% tariff on countries buying oil from Russia if Moscow obstructs US peace efforts. Regarding Iran, Trump also warned of the possibility of using force if an agreement on its nuclear program is not reached.

In response to these statements, Iran’s Supreme Leader Ayatollah Ali Khamenei said that the US would receive a “heavy blow” if it dared to act. At the same time, Iran’s Revolutionary Guards seized two foreign oil tankers in the Persian Gulf, carrying more than 3 million liters of suspected smuggled diesel.

However, some analysts still believe that the possibility of Trump carrying out these threats is low. This is contributing to restraining the rise in oil prices, according to Reuters.

Domestic gasoline prices today

On the afternoon of March 27, the Ministry of Industry and Trade and the Ministry of Finance announced the adjustment of retail gasoline prices. Accordingly, the prices of all commodities increased slightly, except for fuel oil.

Specifically, the prices of E5 RON92 and RON95 gasoline increased by VND337/liter, to VND20,032/liter and VND20,424/liter, respectively. Diesel increased by VND324/liter, to VND18,217/liter. Kerosene increased by VND406/liter, to VND18,524/liter. Fuel oil alone decreased by VND53/kg, currently at VND16,902/kg.

New prices take effect from 3:00 p.m. on March 27, 2025.

Source: https://baoquangnam.vn/gasoline-price-today-1-4-2025-tang-cao-nhat-5-tuan-qua-3151866.html