Gasoline price today October 10, 2025: Plummeting below 20,000 VND
Gasoline prices today October 10: Gasoline prices fell across the board during yesterday afternoon's operating period. Crude oil prices remained unchanged as the market awaited a ceasefire agreement in Gaza.
World oil prices today
World crude oil prices in the trading session on October 10 were almost unchanged compared to the previous session. Investors are still considering two factors: the ceasefire agreement between Israel and Hamas to ease tensions in the Middle East, and the stalled peace process in Ukraine, increasing the risk of maintaining sanctions on Russia, the world's second largest oil exporter.
Specifically, Brent oil price for November 2025 delivery increased slightly by 13 cents to 66.38 USD/barrel, while US West Texas Intermediate (WTI) oil increased by 20 cents to 62.75 USD/barrel.
According to information from international news agencies, both Israel and Hamas have accepted the Egyptian-brokered ceasefire agreement, expected to be signed at the Sharm el-Sheikh resort at noon today (local time).
The Israeli Prime Minister's Office said the deal would officially come into effect after approval by the security cabinet, which is expected to meet at 5 p.m. (1300 GMT).
The agreement includes a ceasefire, a partial Israeli withdrawal from Gaza, and the release of hostages by Hamas in exchange for Israeli prisoners. If the deal is implemented smoothly, analysts say the risk of disruption to oil supplies in the Middle East will decrease, putting pressure on oil prices to make it difficult to break out in the short term.
Expert Claudio Galimberti, chief economist of Rystad Energy, assessed that this ceasefire agreement could become a major turning point in the history of the Middle East region, bringing many remarkable consequences to the global crude oil market.
He said easing tensions could help reduce attacks on tankers in the Red Sea and even increase the chances of reaching a nuclear deal with Iran, which is under multiple sanctions on its oil exports.
In addition, the OPEC+ group recently agreed to a plan to increase production in November at a lower level than expected, helping to calm concerns about oversupply. This move partly contributed to stabilizing oil prices after many weeks of strong fluctuations.
In the US, the Energy Information Administration (EIA) reported that petroleum consumption last week reached 21.99 million barrels per day, the highest level since December 2022. This figure shows that domestic energy demand is recovering steadily, creating a support for oil prices to remain around the range of 62 - 66 USD/barrel.
Oil prices rose about 1% in the October 8 session, reaching a one-week high, as investors believed that the stalled peace talks in Ukraine would prolong sanctions against Russia, thereby limiting oil supply to the world market.
Domestic gasoline prices today
Starting from 3:00 p.m. yesterday, October 9, gasoline prices were officially adjusted down.
The specific reduction for RON 95 gasoline is 480 VND/liter, bringing the retail price to 19,729 VND, which is below the threshold of 20,000 VND.
E5 RON 92 gasoline decreased slightly more by 486 VND/liter, down to 19,138 VND.
Not only gasoline, the prices of other types of oil also decreased simultaneously. Diesel oil decreased by 434 VND/liter, to 18,604 VND.
Kerosene had the deepest decrease of 571 VND/liter, down to 18,434 VND.
Fuel oil also decreased by 562 VND, to 14,808 VND/kg.
In this price adjustment, the management agency continues not to use funds from the Petroleum Price Stabilization Fund.
Looking back from the beginning of the year until now, the petroleum market has experienced many fluctuations. The price of RON 95 gasoline has increased a total of 23 times and decreased 19 times. Similarly, the price of diesel has also increased 21 times, decreased 19 times and remained unchanged once.
The reason for this price reduction is mainly due to the fact that the price of finished petroleum products in the world in the last management period has decreased by about 2-3 USD/barrel.
In parallel with price management, the Ministry of Industry and Trade has just announced the 7th draft of the Decree on Petroleum Business, which includes a notable new point related to the price calculation formula.
Instead of the old calculation method consisting of only four simple factors, the new draft proposes a more detailed and comprehensive formula. This formula will fully include items such as purchase price, sourcing costs, standard business costs, profit, and all related taxes and fees.
The most important change is that, instead of relying on the actual costs of each enterprise as before, the State will proactively announce a standard business cost level as a common basis. This standard cost level will be adjusted annually according to the consumer price index and will be reviewed every three years.
In cases of unusual market fluctuations, the Ministry of Industry and Trade may propose to the Prime Minister to conduct a review earlier than planned.