Gasoline prices today, May 30, 2025, are down: will it last in the context of global instability?
On May 30, 2025, world oil prices recorded a decline, China's oil demand was weak, while the situation in Russia and Iran was unclear.
At 7:00 a.m. (Vietnam time), WTI oil price decreased 0.11% to 60.87 USD/barrel, while Brent oil price decreased 1.16% to 64.15 USD/barrel.
World oil prices closed down more than 1% on May 29, under pressure from many factors of supply and demand instability. Prices rose slightly at the beginning of the session thanks to the US court rejecting most of Trump's old tariffs, but then reversed when US officials warned that there were many mechanisms to maintain tariffs, causing investors to worry. The director of the IEA commented that China's oil demand is weak, while the situation in Russia and Iran is unclear, negatively affecting the market.
The US and Iran continue to negotiate over control of their nuclear program, causing investor sentiment to waver between fears of conflict and hopes for peace.
OPEC+ plans to increase production by 411,000 barrels per day from July, a decision to be announced on May 31. The US is also considering imposing new sanctions to tighten oil flows from Russia, causing market volatility.
The EIA report showed that crude oil inventories fell by 2.8 million barrels last week, while gasoline and distillate inventories also fell. Wildfires in Alberta, Canada, forced many oil and gas facilities to shut down, temporarily reducing supplies.
Domestic gasoline prices
In the domestic market, gasoline prices were adjusted from May 29.
E5 RON 92-II gasoline increased by 74 VND/liter, not higher than 19,196 VND/liter. RON 95-III gasoline increased by 33 VND/liter, not higher than 19,565 VND/liter.
On the contrary, the price of 0.05S diesel decreased by VND269/liter, not higher than VND17,136/liter. Kerosene decreased by VND206/liter, not higher than VND17,108/liter. Fuel oil decreased by VND248/kg, not higher than VND16,264/kg.
In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund.
