Gasoline price today October 18, 2025: Oil price decreased nearly 3% this week

World oil price today October 18: Down nearly 3% this week

World oil prices continued to fall in the last session of the week as investor sentiment was affected by the negative supply-demand outlook.

Specifically, Brent oil price decreased by 9 cents (0.15%) to 60.97 USD/barrel, while US WTI oil price decreased by 4 cents to 57.42 USD/barrel.

Oil prices fell nearly 3% for the week, marking the second consecutive week of decline. Analysts said the main reasons came from forecasts of a global oversupply and signs of easing geopolitical tensions.

Oil prices took a hit after US President Donald Trump and Russian President Vladimir Putin agreed to hold a new summit in Hungary in two weeks to discuss the Ukraine conflict.

According to experts, the dialogue between the two leaders could make the US reduce sanctions pressure on Russia, thereby helping Russian crude oil supply circulate more easily on the market. Analyst Tamas Varga from PVM said that if relations between Washington and Moscow ease, oil prices will come under significant downward pressure.

Another factor that put a lot of pressure on oil prices was a larger-than-expected increase in US crude oil inventories. According to the US Energy Information Administration (EIA), crude oil inventories increased by 3.5 million barrels to 423.8 million barrels, while experts only forecast an increase of 288,000 barrels.

The main reason is that many refineries in the US are entering the fall maintenance period, reducing refining capacity. At the same time, US crude oil production also increased to a record 13.636 million barrels/day, contributing to the pressure on oil prices.

The International Energy Agency (IEA) said the world could face a major supply glut by 2026 as production grows faster than demand. This forecast has created pessimism among investors, causing oil prices to fall sharply this week.

In addition, trade tensions between the US and China have also raised concerns about the risk of slowing growth, leading to a decline in energy demand. Onyx Capital Group manager Jorge Montepeque said that confidence in the outlook for global energy consumption is “seriously shaken”.

Energy experts predict that oil prices will continue to be under pressure in the short term due to rapidly increasing supply and large inventories in the US. However, geopolitical factors, especially tensions in the Middle East or Europe, could cause oil prices to fluctuate strongly again.

If demand recovers in the fourth quarter and OPEC+ production is kept under control, oil prices could potentially return to $65 a barrel. Conversely, if oversupply persists and the dollar strengthens, prices could continue to fall in the coming period.

Gasoline price today October 17, 2025

On the afternoon of October 16, the Ministry of Industry and Trade - Ministry of Finance announced the adjustment of retail gasoline prices in the new management period. From 3:00 p.m. on the same day, the price of E5 RON 92 gasoline increased by 88 VND/liter to 19,226 VND/liter, while RON 95-III gasoline increased by 174 VND/liter, reaching 19,903 VND/liter.

On the contrary, oil prices decreased, of which diesel decreased by 181 VND/liter, kerosene decreased by 28 VND/liter, and mazut decreased the most with 437 VND/liter.

During this operating period, the management agency continues not to set aside or use the Petroleum Price Stabilization Fund.

The Ministry of Industry and Trade and the Ministry of Finance said the management goal is to maintain a reasonable price difference between E5 RON 92 bio-fuel and RON 95 mineral gasoline to encourage people to use environmentally friendly fuel.