Gasoline price today June 20, 2025: Strong increase, risk of exceeding 80 USD/barrel
Oil prices today June 20: World oil prices rebounded amid escalating tensions in the Middle East, raising concerns about the risk of supply disruption in the key region.
World oil prices
Brent crude rose $1.48, or 1.9%, to $78.18 a barrel, according to Reuters. WTI crude rose more sharply, adding $1.72, or 2.3%, to $76.86 a barrel. This increase has led many analysts to believe that oil prices could soon surpass $80 a barrel.
Citibank forecasts that if the Iran-Israel conflict persists and affects oil exports from Iran, OPEC's third-largest producer with an output of about 3.3 million barrels per day, Brent crude oil prices could rise 15 to 20 percent from pre-crisis levels, even reaching $90 per barrel.
However, a more serious scenario is that the blockade of the Strait of Hormuz, a route for transporting about 20% of global oil, could push oil prices to $120-$130 a barrel, according to JP Morgan. However, experts also say that if this situation occurs, the impact will only be temporary because the countries involved will quickly act to reconnect this strategic shipping route.
On the other hand, weak demand, especially from China, along with additional supply from other regions, is expected to help stabilize the market and avoid large price shocks in the long term.
Domestic gasoline prices
On the afternoon of June 19, the Ministry of Finance and the Ministry of Industry and Trade decided to sharply increase the retail price of gasoline in the country. With the development of world oil prices, this increase may not stop in the next adjustment period.
Specifically, the price of E5 RON92 gasoline was adjusted to 20,631 VND/liter, an increase of 1,169 VND; RON95-III gasoline to 21,244 VND/liter, an increase of 1,277 VND. Diesel oil increased the most, by 1,456 VND/liter, to 19,156 VND/liter. Kerosene has a new price of 18,923 VND/liter, an increase of 1,412 VND; mazut oil increased by 1,182 VND, to 17,643 VND/kg.
Notably, in this adjustment period, the joint ministries did not set aside or use the Petroleum Price Stabilization Fund. With the world crude oil price still hovering around 75-76 USD/barrel and geopolitical tensions in the Middle East, domestic petroleum prices are forecast to continue to increase in the upcoming adjustment period.
