Gasoline price on April 10 may decrease by nearly 2,000 VND per liter?

World oil prices fell sharply last week, with Brent crude falling 10.9% and WTI crude falling 10.6%. Both benchmarks recorded their largest percentage declines in about two years.

World oil prices last week were strongly affected by the heavy import tax announced by US President Donald Trump on April 2 and the unexpected increase in supply by OPEC+.

This week, world oil prices continued to plummet in the first trading session of the week (April 7), with a decrease of more than 2%, reaching the lowest level in nearly 4 years. Oil prices fell sharply due to concerns that the latest US trade tariffs could push the global economy into recession, reducing global energy demand.

Oil prices fell another 2% on April 8, to their lowest level in four years, as investors assessed the growing possibility of a recession due to the escalating trade war between the US and China.

Prices of two oil benchmarks, Brent and WTI, have lost about 16% since April 2 when Donald Trump announced tariffs on all imports into the US.

At the beginning of today's trading session, April 9, world oil prices were still in the red. According to data from Oilprice, at 7:39 a.m. on April 9 (Vietnam time), Brent oil price was listed at 61.05 USD/barrel, down 2.82%. Meanwhile, WTI oil price was at 57.59 USD/barrel, down 3.34% compared to the previous session.

In the domestic market, according to plan, the Ministry of Industry and Trade - Ministry of Finance will adjust retail gasoline prices periodically tomorrow, April 10.

Some petroleum businesses believe that domestic gasoline prices in tomorrow's adjustment period may be adjusted down sharply following the trend of world gasoline prices.

Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by 1,400 - 1,800 VND/liter.

Diesel prices are likely to be adjusted down by 1,200 - 1,300 VND/liter.

In case the regulatory agency draws from the Stabilization Fund, gasoline prices may decrease less.

If the above forecast is correct, domestic RON 95 gasoline prices will reverse sharply after 3 consecutive increases.

In the most recent adjustment period (April 3), RON 95 gasoline price increased by 490 VND/liter, to 20,910 VND/liter.

Similarly, the price of E5 gasoline was also adjusted up by 340 VND/liter, to 20,370 VND/liter.

Diesel price was adjusted up by 260 VND/liter, to 18,470 VND/liter.