Fuel prices today, October 22, 2025: Maintaining stability.

World oil prices today, October 22nd

Oil prices remained stable after market concerns about oversupply and trade tensions between the US and China, the world's two largest oil consumers, subsided.

Brent crude futures edged higher by 0.11%, reaching $61.08 per barrel. Meanwhile, WTI crude for November delivery rose 0.24% to $57.66 per barrel ahead of its expiration date.

After oil prices hit their lowest level since early May in the previous session, the market saw a slight recovery on expectations that supply would soon be balanced again, although OPEC+ is still maintaining its plan to add more supply.

One notable point is that the oil price structure is shifting to a "contango" pattern, where spot prices are lower than futures prices. This is typically a signal of abundant short-term supply and weakening demand. However, experts suggest that concerns about oversupply may have been exaggerated.

According to Ole Hansen, Director of Commodity Strategy at Saxo Bank, the market structure has not yet shifted significantly to create a situation of large-scale stockpiling, suggesting that oil prices are still supported by the belief that the actual surplus supply will be smaller than previously forecast.

A preliminary Reuters report, released before U.S. energy agencies officially announced the figures, suggests that U.S. crude oil inventories may have increased last week, while gasoline and diesel inventories decreased.

Earlier in the week ending October 10th, US crude oil inventories rose more than expected, while gasoline and diesel inventories fell more sharply than anticipated. These fluctuations suggest that oil prices are still being somewhat supported by actual fuel demand, although the market remains cautious about the global economic outlook.

Experts from UBS believe that the "super contango" structure, a characteristic sign of a large oversupply market, has not yet appeared. This suggests that oil prices are not yet under strong pressure from the production surplus as previously feared.

In addition, supporting factors such as stable demand and reasonably controlled production have helped oil prices maintain a temporary equilibrium. If global economic growth improves, oil prices could recover more strongly in the coming weeks.

Gasoline and diesel prices today, October 22, 2025

On the afternoon of October 16th, the Ministry of Industry and Trade and the Ministry of Finance announced adjustments to retail gasoline prices in the new price adjustment period. From 3 PM 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.

Conversely, oil products saw price decreases, with diesel falling by 181 VND/liter, kerosene by 28 VND/liter, and fuel oil experiencing the sharpest decline at 437 VND/liter.

During this price adjustment period, the regulatory agency continued to neither allocate funds nor utilize the Fuel Price Stabilization Fund.

The Ministry of Industry and Trade and the Ministry of Finance stated that the objective of the regulation is to maintain a reasonable price difference between E5 RON 92 bioethanol gasoline and RON 95 mineral gasoline to encourage people to use environmentally friendly fuels.