Gasoline price on December 31: Continued slight increase
World oil prices recorded an increase in the trading session on December 30, mainly due to forecasts of colder weather in the US and Europe, boosting demand for diesel. Brent crude oil prices increased 0.3% to 74 USD/barrel, while US West Texas Intermediate (WTI) crude oil increased 0.6% to 70.99 USD/barrel.
World crude oil prices
Crude oil prices continued to rise slightly in the morning trading session on December 31. Brent crude oil prices remained at $74.12/barrel, while WTI crude oil increased 0.32% to $71.22/barrel. Forecasts of colder weather and increased export demand are the main factors supporting oil prices.
World oil price list updated at 7:15 a.m. on December 31, 2024
| Type name | Term | Trading floor | Price | %change | Unit of measure |
| Crude oil | Delivery April 2025 | Tokyo | 70,750 | -0.04 | JPY/barrel |
| Brent oil price | Delivery March 2025 | ICE | 74.12 | 0.01 | USD/barrel |
| WTI Crude Oil | Delivery February 2025 | Nymex | 71.22 | 0.32 | USD/barrel |
U.S. ultra-low sulfur diesel rose 2.5 percent to its highest level since early November. Analysts said forecasts of sharp drops in temperatures in the coming weeks will boost demand for diesel for heating, replacing natural gas. This has pushed diesel prices up sharply.
US natural gas prices rose 17% to their highest level since January 2023, boosted by forecasts for colder weather and increased heating demand. A decline in US crude inventories of about 3 million barrels last week also helped support prices.
Investors are awaiting the results of China's factory PMI and the US ISM surveys to gauge the economic health of the world's two largest oil consumers. China's weak economy could lead to an oil glut by 2025, according to analyst Alex Hodes.
Domestic gasoline prices
In Vietnam, domestic gasoline prices were adjusted down slightly on the afternoon of December 26. Specifically:
E5 RON 92 gasoline: VND 19,817/liter (down VND 427/liter compared to the previous period).
RON 95 gasoline: VND 20,547/liter (down VND 457/liter).
Diesel: 18,630 VND/liter (down 103 VND/liter).
Kerosene: 18,708 VND/liter (down 260 VND/liter).
Fuel oil: 15,970 VND/kg (up 67 VND/kg).
Oil market forecast 2025
The Chinese government has announced plans to issue 3 trillion yuan (about $411 billion) worth of treasury bonds by 2025 to revive economic growth, a move that could impact global oil demand in the near future.
