Oil prices today 03/05/2025: Oil prices stabilize and head toward a weekly decline, as traders balance positions ahead of the OPEC+ meeting...

Gasoline price today 05/03/2025

Recorded on Oilprice at 4:30 a.m. on May 3, 2025 (Vietnam time), Brent oil price was at 61.23 USD/barrel, down 1.35% (equivalent to a decrease of 0.84 USD/barrel).

Brent oil price on the world market early morning of May 3, 2025 (Vietnam time)

Similarly, WTI oil price was at 58.20 USD/barrel, down 1.65% (equivalent to a decrease of 0.98 USD/barrel).

WTI oil price on the world market early morning of May 3, 2025 (Vietnam time)

Oil prices pared losses after US jobs data showed payrolls rose more than expected last month.

US nonfarm payrolls increased by 177,000 in April, compared with economists' expectations of 130,000 new jobs, according to a Reuters poll. The unemployment rate was unchanged at 4.2%.

Talks between the US and Iran over the country's nuclear programme have been postponed after Mr Trump reimposed a "maximum pressure" campaign on Iran, including efforts to bring its oil exports to zero.

Reuters reported on Wednesday that Saudi Arabia, the de facto leader of OPEC+, has told allies and industry experts that it is unwilling to support oil prices by cutting output further.

Reuters reported earlier that some OPEC+ members are expected to propose that the group accelerate its output increase in June for the second consecutive month. The eight OPEC+ countries will meet on May 5 to decide on their June production plan.

Domestic gasoline prices today May 3, 2025

Domestic retail gasoline prices on May 3, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 24 by the Ministry of Finance - Ministry of Industry and Trade.

Specifically, the price of E5 RON 92 gasoline increased by VND740/liter, to VND19,238/liter; RON 95 gasoline increased by VND782/liter, to VND19,638/liter.

Similarly, the price of diesel 0.05S: Increased by 487 VND/liter, to 17,520 VND/liter; kerosene increased by 531 VND/liter, to 17,715 VND/liter; mazut 180CST 3.5S increased by 564 VND/kg, to 16,524 VND/kg.

Gasoline prices today May 3, 2025. Photo by Dinh Tuan

In this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.

Thus, from the beginning of 2025 to now, domestic gasoline prices have undergone 17 adjustment sessions, including 7 decrease sessions, 7 increase sessions and 3 opposite sessions.