Mr. Nguyen Xuan Thang, Director of a petroleum retail business in Lam Dong, predicted that, based on fluctuations in world oil prices, domestic gasoline prices will likely continue to fall this afternoon.
"Gasoline prices are expected to decrease by 500-600 VND/liter, while diesel and kerosene prices will decrease by 300-400 VND/liter," Mr. Thang predicted.
Agreeing with this opinion, Ms. Nguyen Thi Bich Huong, Director of a petroleum retail business in Hanoi, also believes that retail gasoline prices this afternoon may decrease by 500-700 VND/liter, while diesel prices may decrease by about 300-500 VND/liter.
Meanwhile, the fuel price forecasting model of the Vietnam Petroleum Institute (VPI) shows that, at the price adjustment session this afternoon, April 17th, gasoline prices could continue to decrease by 3.1 - 3.5% if the inter- ministerial committee of Finance and Industry and Trade does not allocate or utilize the fuel price stabilization fund.
Specifically, VPI forecasts that the retail price of E5 RON92 gasoline could decrease by 661 VND (3.5%) to 18,219 VND/liter, while RON95 gasoline could decrease by 595 VND (3.1%) to 18,605 VND/liter.
Meanwhile, diesel fuel could fall by 2% to 16,899 VND/liter, kerosene could fall by 2.4% to 16,992 VND/liter, and fuel oil could decrease slightly by 0.7% to 15,787 VND/kg.
VPI believes that the inter-ministerial committee of Finance and Industry and Trade will continue to refrain from impacting the fuel price stabilization fund this time around.
At the price adjustment on April 10th, the price of E5 RON92 gasoline decreased by 1,491 VND/liter, to 18,882 VND/liter. The price of RON95 gasoline decreased by 1,712 VND/liter, to 19,207 VND/liter.
Diesel fuel prices also decreased by 1,235 VND/liter, to 17,243 VND/liter. Kerosene prices decreased by 1,322 VND/liter, to 17,413 VND/liter, and fuel oil prices decreased by 1,124 VND/kg, to 15,902 VND/kg.
Since the beginning of the year, domestic gasoline prices have undergone 15 adjustments, including 6 decreases, 6 increases, and 3 changes.
On the world market at 6:00 AM this morning, April 17th, WTI crude oil was priced at $62.65 per barrel, up 2.09%, or $1.28 per barrel, while US Brent crude oil was priced at $65.92 per barrel, up 1.95%, or $1.26 per barrel.
According to Reuters , the volatile US trade policies have created instability in the global oil market and forced OPEC to lower its outlook for world oil demand this year.
In addition, U.S. crude oil inventories rose while gasoline and distillate inventories fell last week. Crude oil inventories increased by 515,000 barrels to 442.9 million barrels in the week ending April 11, compared with analysts' expectations in a Reuters poll for a 507,000 barrel increase.
The upward momentum in oil prices is being limited by forecasts from the International Energy Agency (IEA) that global oil demand will grow at its slowest pace in five years.
Concerns about Trump's tariffs, combined with increasing production from the OPEC+ group, which includes OPEC and allies like Russia, have driven oil prices down by about 13% this month.
VN (according to VTC News)Source: https://baohaiduong.vn/chieu-nay-gia-xang-du-bao-tiep-tiep-giam-409589.html
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