Gasoline price today 7/9: Continue to increase

World oil prices today recorded the second consecutive increase despite OPEC+ increasing supply more than expected.

At 6:10 a.m. on July 9, the price of WTI oil was at 68.13 USD/barrel, up 0.31 USD/barrel, while the price of US Brent oil stood at 69.96 USD/barrel, up 0.51 USD/barrel.

Oil prices started to rise on Monday (July 7) as investors shrugged off the impact of a larger-than-expected OPEC+ production increase in August as well as concerns about the potential impact of US tariff policy.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed on July 5 to increase output by 548,000 barrels per day in August, more than the 411,000 barrels per day increase made in the previous three months.

World oil prices continue to increase today. (Illustration photo)

The market is still short of supply, suggesting it can absorb more barrels. The OPEC+ decision will return nearly 80% of the 2.2 million barrels per day of voluntary cuts from eight OPEC producers to the market.

However, actual production increases have so far been lower than planned and the bulk of the supply has come from Saudi Arabia.

In a show of confidence about oil demand, Saudi Arabia on July 6 raised its crude oil prices for August 2025 to a four-month high for Asian customers.

Goldman analysts expect OPEC+ to announce a final increase of 550,000 barrels per day for September at its next meeting on August 3.

Oil prices were also pressured as U.S. officials signaled a delay in the timing of tariffs but did not provide details on what changes to the tariffs would be imposed. Investors fear higher tariffs could slow economic activity and reduce oil demand.

Domestic gasoline prices

During the operating period on July 3, the price of E5 RON92 gasoline decreased by VND1,085/liter, to a level not higher than VND19,445/liter; RON95 gasoline decreased by VND1,210/liter, to a level not higher than VND19,906/liter.

Similarly, the prices of various types of oil also decreased sharply. Specifically, the price of diesel oil decreased by 941 VND/liter, to 18,408 VND/liter; kerosene oil decreased by 932 VND/liter, to 18,132 VND/liter. The price of fuel oil decreased by 1,148 VND, to 15,807 VND/kg.

In this operating period, the management agency continues to not set aside or spend the gasoline price stabilization fund.

Previously, from 0:00 on July 1, gasoline prices also decreased due to the 2% reduction in VAT (to 8%).

Since the beginning of 2025, domestic gasoline prices have undergone 26 adjustment sessions, including 10 decrease sessions, 11 increase sessions and 5 opposite sessions.

Source: https://baolangson.vn/gia-xang-dau-hom-nay-9-7-tiep-tuc-tang-5052626.html