Global Oil Prices Decline Amid Ongoing Geopolitical Tensions

On August 9th, 2026, at 5:00 PM, global oil and gasoline prices saw a simultaneous decrease. According to data, WTI (West Texas Intermediate) oil price dropped to $77.08 per barrel, down by $0.21 from the previous day, marking a 0.27% decline. Similarly, Brent oil price fell to $82.21 per barrel, down by $0.28, representing a 0.34% decrease.

The global oil market has been influenced by several key factors in recent days. These include the US canceling plans for a new attack on Iran, Iran and Oman reaching an agreement on managing the Hormuz Strait, OPEC+ approving a plan to increase oil production from September, and ongoing military conflict between Russia and Ukraine.

The Ministry of Industry and Trade noted that while prices have fluctuated, the overall trend is downward. In Vietnam, the selling prices for popular gasoline and oil products on August 9th were as follows: E5 RON92 gasoline (not higher than 21,728 VND/liter), E10 RON95-III gasoline (not higher than 22,324 VND/liter), diesel oil 0.05S (not higher than 27,544 VND/liter), and 180CST 3.5S mazut oil (not higher than 16,391 VND/kg).

A representative from a gasoline and oil business predicted that prices may decrease further in the upcoming week, with gasoline E5 RON92 and E10 RON95-III potentially dropping by 1,000 to 1,300 VND/liter, while oil prices could decline by 100 to 1,600 VND/liter.

Vietnam's current gasoline and oil prices are lower compared to neighboring countries such as Thailand, Cambodia, Laos, and China. However, the business representative noted that the actual decrease depends on the utilization of the gasoline and oil price stabilization fund managed by the inter-Ministry of Finance - Ministry of Industry and Trade.