This afternoon, July 17, domestic gasoline prices are expected to decrease by about 100 VND/liter.

In the operating period this afternoon (July 17), gasoline prices are forecast to decrease slightly, while oil prices may increase.

Gasoline prices expected to decrease slightly this afternoon, July 17

In the world market last week, gasoline prices in the Singapore market tended to decrease slightly, about 1.3 - 1.5% lower than a week ago.

Many opinions predict that domestic gasoline prices may also decrease slightly, with a decrease of about 100 - 150 VND/liter. Meanwhile, diesel prices are forecast to increase by about 100 - 120 VND/liter.

Meanwhile, according to the gasoline price forecast model of the Vietnam Petroleum Institute (VPI), retail gasoline prices may decrease slightly by 0.4% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the gasoline price stabilization fund.

Specifically, the price of E5 RON92 gasoline may decrease by 79 VND to 19,571 VND/liter, and RON95 gasoline may decrease by 82 VND to 20,008 VND/liter.

VPI's model also forecasts that retail oil prices will increase slightly by 0.3 - 0.8% this period. Accordingly, diesel may increase by 0.3% to VND18,886/liter, kerosene may increase by 0.8% to VND18,517/liter, and fuel oil is forecast to increase by 0.3% to VND15,604/kg.

If the market develops as predicted, gasoline prices will reverse after increasing by more than 200 VND/liter last Thursday.

Specifically, in the operating period on July 10, the price of E5 RON92 gasoline increased by VND214/liter, not higher than VND19,659/liter; the price of RON95 gasoline increased by VND184/liter, not higher than VND20,090/liter.

Prices of various types of oil were adjusted in opposite directions. Specifically, diesel prices increased by 429 VND/liter, not higher than 18,837 VND/liter. Kerosene prices increased by 239 VND/liter, not higher than 18,371 VND/liter.

Fuel oil price alone decreased by 244 VND/kg, not higher than 15,563 VND/kg.

Since the beginning of 2025, domestic gasoline prices have undergone 27 adjustment sessions, including 10 decrease sessions, 12 increase sessions and 5 opposite sessions.

World oil prices continue to decline

At 5:30 a.m. on July 17, the prices of two basic oils in the world continued to decline.

Specifically, WTI oil price was trading at 65.88 USD/barrel, down 0.71 USD/barrel compared to before, while Brent oil price was at 68.06 USD/barrel, down 0.70 USD/barrel.

According to experts, the drop in oil prices in recent days stems from concerns that US import tariffs imposed on trading partners could hinder economic growth and reduce fuel demand.

Accordingly, US President Donald Trump has threatened to impose a 30% tax on imports from the European Union from August 1. EU officials have affirmed that this tax is unacceptable and could end normal trade relations between the world's two largest markets.

The European Commission is currently preparing a list of goods worth 72 billion euros ($84.1 billion) from the United States to be subject to retaliatory tariffs if talks with Washington fail.

Mr Trump also announced on Monday that the US would impose very severe tariffs on Russia within 50 days if the two sides did not reach an agreement to end the fighting in Ukraine.

However, PVM Oil analyst Tamas Varga said: “ The latest US statement against Russia was not enough to spark concerns about a prolonged supply disruption, so oil prices continued to fall yesterday .”

Still, an improving demand outlook from China helped limit the decline. State-owned refiners in China are ramping up production after completing maintenance to meet fuel demand in the third quarter and rebuild gasoline inventories that are at multi-year lows.

Barclays also said concerns about peak oil demand in China may be overblown. In a recent report, they estimated that China’s oil demand in the first half of 2025 would increase by 400,000 barrels per day year-on-year to 17.2 million barrels per day.

Meanwhile, OPEC’s monthly report said the global economic outlook for the second half of the year will improve, leading to an increase in oil demand forecast. The organization assessed that Brazil, China and India are exceeding expectations, while the US and EU are gradually recovering from a difficult period last year.

Preliminary data from the American Petroleum Institute (API) showed that US crude, distillate and gasoline inventories all rose in the week ending July 11. Specifically, crude oil inventories increased by 839,000 barrels, gasoline increased by 1.93 million barrels and distillate oil increased by 828,000 barrels.

HA (according to Vietnamnet)

Source: https://baohaiphongplus.vn/chieu-nay-17-7-gia-xang-trong-nuoc-du-bao-giam-khoang-100-dong-lit-416530.html