Lowest in 4 years

World oil prices

Recorded at 4:30 a.m. (Vietnam time), WTI oil price decreased slightly by 0.21 USD, to 60.53 USD/barrel. Brent oil also decreased by the same amount, to 64.01 USD/barrel.

However, in the morning trading session in the US, oil prices showed signs of a slight recovery. Brent oil increased to 64.87 USD/barrel, while WTI oil reached 61.45 USD/barrel.

Previously, both types of oil had fallen sharply by 14-15% in just one trading session after Mr. Trump's tax announcement on April 2.

According to Goldman Sachs' forecast, Brent oil prices could remain at $62 per barrel by the end of 2025 and $55 by the end of 2026. Meanwhile, WTI oil could fall to $58 by the end of this year and continue to fall to $51 by the end of next year.

Natasha Kaneva, head of global commodity strategy at JPMorgan, said the US is prioritizing oil prices below $50 a barrel. The administration is willing to accept a period of “industry disruption” similar to the 2014 price war between OPEC and US shale oil, if it helps lower the cost of oil production in the long term.

However, the oil market has shown signs of a slight recovery, helped by a stabilizing sentiment in the stock market. Wall Street’s major indexes have recovered in the recent session after a sharp sell-off. According to Warren Patterson of ING, the market is overreacting to the forecast of lower demand, but it is still unclear how much of that will actually happen.

In addition, President Trump unexpectedly announced that the US and Iran could begin negotiations regarding the nuclear program. However, Iran has insisted that the talks will only be indirect. According to RBC Capital Markets analyst Helima Croft, if the negotiations are successful, they could lead to increased Iranian oil exports, while if they fail, military tensions could escalate.

In addition to political factors, the market is also looking ahead to U.S. crude oil inventory data. A preliminary Reuters survey showed that crude and distillate inventories likely rose by about 1.6 million barrels last week. Details are due from the American Petroleum Institute on Tuesday evening and the Energy Information Administration on Wednesday.

Domestic gasoline prices

On the afternoon of April 3, the Ministry of Finance and the Ministry of Industry and Trade announced the adjustment of retail gasoline prices effective from April 9, 2025. Accordingly, all gasoline products will have their prices adjusted upward.

Specifically, the price of E5 RON 92 gasoline increased by 341 VND/liter, to 20,373 VND/liter. RON 95 gasoline also increased sharply by 495 VND/liter, to 20,919 VND/liter. The price of 0.05S diesel oil was adjusted up by 261 VND/liter, to 18,478 VND/liter. Kerosene increased by 211 VND/liter, to 18,735 VND/liter. Mazut 180CST 3.5S oil also increased by 124 VND/kg, to 17,026 VND/kg.

In this management period, the Joint Ministry did not set aside and did not use the Petroleum Price Stabilization Fund for all products. This is a move to more closely reflect the recent developments in world petroleum prices.

Since the beginning of 2025, the domestic gasoline market has undergone 14 adjustment sessions. Of these, there have been 6 price increases, 5 price decreases, and 3 sessions of opposite adjustments between gasoline and oil.

The current retail prices will be applied until the next adjustment period on April 10. In the context of the sharp drop in world oil prices last week, it is likely that domestic gasoline prices will also decrease in the upcoming adjustment period.

Source: https://baoquangnam.vn/gia-xang-dau-hom-nay-9-4-2025-thap-nhat-trong-4-nam-qua-3152337.html