Gasoline price today April 15, 2025: Continued price increase
Oil prices today April 15, 2025: Oil prices continued to increase by more than 1% after the US exempted some tariffs and China's crude oil imports in March recovered strongly.
World oil prices on April 15, 2025 recorded a slight increase after many volatile sessions. Brent oil increased to 65.01 USD/barrel and WTI oil reached 61.68 USD/barrel in the early morning trading session. The increases were 0.45% and 0.33%, respectively.
The main driver for the oil price recovery was the news that the US would waive some tariffs, while China's crude oil imports in March recovered strongly, up nearly 5% compared to the same period last year, thanks to shipments from Iran and Russia.
However, the market still faces many risks. Harry Tchilinguirian, an expert from Onyx Capital Group, said market sentiment has improved, but remains fragile due to uncertainty in trade policy.
Despite the positive signs, Brent and WTI are still down about $10 a barrel since the start of the month. Many major organizations have lowered their forecasts for oil prices in 2025. OPEC has revised down its forecast for global demand to 1.3 million barrels a day, down 150,000 barrels a day from last month. Goldman Sachs also forecasts Brent to average $63 and WTI at $59 for the rest of the year.
The oil market is entering a state of contango, where spot prices are lower than futures prices. This is a signal that investors are worried about oversupply and slowing demand, especially in the petrochemical group in the coming months.
The domestic retail price of gasoline and oil applied from April 15, 2025 is implemented according to the adjustment period on April 10 of the Ministry of Finance - Industry and Trade. Accordingly, gasoline and oil prices have decreased sharply compared to the previous period.
Specifically, E5 RON 92 gasoline decreased by VND1,491 per liter, now at VND18,882 per liter. RON 95 gasoline also decreased by VND1,712 per liter, down to VND19,207 per liter. Diesel oil decreased by VND1,235 per liter, now at VND17,243 per liter. Kerosene decreased by VND1,322 per liter, down to VND17,413 per liter. Fuel oil decreased by VND1,124 per kg, down to VND15,902 per kg.
In this operating period, the Joint Ministry continues not to make provisions or use the Petroleum Price Stabilization Fund for all products.
Since the beginning of 2025, domestic gasoline prices have been adjusted a total of 15 times. Of these, there have been 6 sessions of price reduction, 6 sessions of increase and 3 sessions of opposite adjustments. This clearly reflects the complex fluctuations of the energy market in recent times.