Gasoline prices today August 20, 2025: World oil prices decrease due to expectations of Russia - Ukraine negotiations

World oil prices

World oil prices saw a significant drop as traders bet on the possibility of a peace deal between Russia and Ukraine that would ease sanctions on Russian crude, helping to increase global supplies.

Brent crude oil prices closed at $65.79 a barrel, down 81 cents (1.22%). Meanwhile, the price of US West Texas Intermediate (WTI) crude oil for September delivery, which expires on Wednesday, ended at $62.35 a barrel, down $1.07 (1.69%).

After meeting at the White House on Monday with Ukrainian President Volodymyr Zelenskiy and European allies, US President Donald Trump announced on social media that he had spoken with Russian President Vladimir Putin. Trump said he was arranging a meeting between Putin and Zelenskiy, with the possibility of leading to a trilateral summit between the three leaders.

President Zelenskiy described his talks with Trump as “very good” and mentioned discussions about the possibility of the US providing security guarantees to Ukraine. While Trump confirmed the US would provide assistance, the extent of the commitment remains unclear.

Chinese refiners have booked 15 cargoes of Russian oil for delivery in October and November, two analysts and a trader said, amid a sharp drop in Indian demand for Moscow’s exports. The move comes as secondary sanctions on Russian oil importers are eased, reducing the risk of disruption to global supplies.

Oil Price Forecast: Will the Downtrend Continue?

Analysts from DBS Bank, led by Suvro Sarkar, said the US's easing of secondary sanctions pressure has helped ease geopolitical tensions, creating conditions for oil prices to fall.

Meanwhile, Bart Melek, head of commodity strategy at TD Securities, forecasts that oil prices could continue to fall to an average of $58 per barrel in the fourth quarter of 2025 and the first quarter of 2026, if tensions continue to ease and sanctions are lifted.

However, Phil Flynn, senior analyst at Price Futures Group, warned that the market is at a record short position. If a ceasefire is not reached, oil prices could rebound.

President Trump is pushing to end what is considered the deadliest war in Europe in 80 years. However, Kyiv and its allies are concerned that the US may press for a deal that favors Russia. The outcome of the upcoming talks will determine whether oil prices continue their downward trend or reverse sharply higher.

Gasoline prices today

During the operating period on August 14, the price of E5 RON92 gasoline decreased by VND254/liter, not higher than VND19,354/liter. The price of RON95 gasoline decreased by VND190/liter, not higher than VND19,884/liter.

Prices of all types of oil also decreased: Diesel oil decreased by 723 VND/liter, not higher than 18,077 VND/liter. Kerosene price decreased by 640 VND/liter, not higher than 18,020 VND/liter and fuel oil price decreased by 379 VND/kg, not higher than 15,268 VND/kg.

In this operating period, the management agency continues not to set aside or spend the gasoline price stabilization fund.

This is the second time the price of E10 gasoline has been adjusted since it was first sold in Ho Chi Minh City, Hanoi and Hai Phong on August 1. There was one increase and one decrease. When it was first sold, the price of E10 gasoline was 19,600 VND/liter in zone 1 and 19,990 VND/liter in zone 2. By the adjustment period on August 7, the price of E10 gasoline was 19,830 VND/liter in zone 1 and 20,220 VND/liter in zone 2.

Since the beginning of the year, domestic gasoline prices have gone through 32 adjustment sessions, of which 13 decreased, 14 increased and 5 were mixed.