Gasoline price forecast for April 3rd adjustment period continues to increase

Tomorrow (April 3, 2025) is the time to regulate retail gasoline prices according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trading.

Gasoline prices at the April 3 management session are forecast to increase for the third consecutive session following world prices. Photo: TT

According to a survey at 8:52 a.m. on April 3, WTI oil price increased by 0.02 USD/barrel (up 0.03%), to 71.22 USD/barrel. Brent oil price increased by 0.06 USD/barrel (up 0.08%), to 74.47 USD/barrel.

Oil prices steadied on Wednesday after falling in the previous session, on concerns that new U.S. tariffs due to be announced later in the day could exacerbate the global trade war, thereby curbing demand for crude.

In addition, US oil inventories also reflect a mixed picture of supply and demand from the world's largest producer and consumer.

According to the American Petroleum Institute, US crude oil inventories increased by 6 million barrels in the week ended March 28. However, gasoline inventories decreased by 1.6 million barrels, while distillate inventories decreased by 11,000 barrels.

Official US crude oil inventory data from the Energy Information Administration will be released later Wednesday.

Based on the developments in world oil prices, some oil and gas businesses believe that domestic oil prices at the April 2 adjustment period are expected to increase following the trend of world oil prices.

Specifically, the price of RON95 gasoline may increase by about 250 - 350 VND/liter; E5 gasoline increases by 200 - 250 VND/liter; diesel increases by about 200 - 250 VND/liter.

If forecasted, domestic RON 95 gasoline prices will increase for 3 consecutive sessions.

In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said that in the operating period on April 3, the retail price of E5 RON 92 gasoline is forecast to continue to increase by VND 300 (1.5%) to VND 20,330/liter, while RON 95-III gasoline may increase by VND 386 (1.9%) to VND 20,806/liter.

VPI's model also forecasts that retail prices of kerosene and diesel will tend to increase this period. Specifically, diesel may increase by 1.2% to VND18,430/liter, kerosene may increase by 1.1% to VND18,718/liter, and fuel oil may increase by a small 0.3% to VND16,951/kg. VPI forecasts that the Ministry of Finance and the Ministry of Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.

Domestic retail gasoline prices on April 2, 2025 will be applied according to the adjustment session from 3:00 p.m. on March 27 by the Ministry of Finance - Ministry of Industry and Trade.

In the adjustment session on March 27, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND20,032/liter (an increase of VND337/liter). The price of RON 95-III gasoline increased compared to the previous adjustment period, at VND20,424/liter (an increase of VND337/liter).

Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at 18,217 VND/liter (down 324 VND/liter); kerosene has a new price of 18,524 VND/liter (up 406 VND/liter); mazut is priced at 16,902 VND/kg (down 53 VND/kg).

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.

Currently, the price of this fuel has reached its lowest level in nearly 4 years, equivalent to July 2021. Since the beginning of the year, RON 95 gasoline has increased 7 times and decreased 6 times. Diesel has increased 6 times, decreased 6 times and remained unchanged once.

Duy Anh

Source: https://congthuong.vn/du-bao-gia-xang-tai-ky-dieu-hanh-ngay-34-tiep-tuc-tang-381124.html