Gasoline price this afternoon is expected to decrease by 300-500 VND per liter

Gasoline prices in the adjustment session on the afternoon of February 22 may decrease from 300 - 500 VND/liter, while oil prices may decrease from 400 - 500 VND/liter/kg.

According to leaders of some petroleum businesses, last week, the average price of finished gasoline in the Singapore market tended to decrease compared to the previous period, but the adjustment was not too large.

Based on world price developments, Mr. Dang Hoai Phuong, Director of Phuong Nam Petroleum Retail Enterprise, commented and predicted: "In the management period this afternoon (February 22), domestic E5 RON 92 gasoline prices may decrease by 400 - 500 VND/liter, RON 95 gasoline may decrease by 300 - 400 VND/liter. Similarly, diesel is forecast to decrease by 350 - 450 VND/liter".

Similarly, Mr. Nguyen Xuan Thang, Director of Hai Au Phat Company Limited, also predicted that this afternoon gasoline prices could decrease by 300 - 500 VND/liter, and oil prices would also decrease similarly, by 400 - 500 VND/liter/kg.

"The forecasted gasoline prices mentioned above do not take into account the management agency's allocation or use of the Stabilization Fund," said Mr. Thang.

According to Mr. Thang, the discount rate from distributors and wholesale businesses to agents in the past few days has been "more comfortable" than during the Lunar New Year, ranging from 1,150 - 1,500 VND/liter.

"This is a discount level that ensures retail businesses make a slight profit and maintain the supply of gasoline to the market," said Mr. Thang.

If the forecast is correct, domestic gasoline prices will have their second price reduction since the beginning of the year. Meanwhile, if the Ministry of Industry and Trade and the Ministry of Finance draw from the stabilization fund, gasoline prices may decrease less, or even not at all.

Currently, the selling prices of gasoline and oil are being applied according to the price of the operating session on the afternoon of February 15. Specifically, the price of E5 RON92 gasoline increased by 711 VND/liter, not higher than 22,831 VND/liter; RON95 gasoline increased by 675 VND, not higher than 23,919 VND/liter.

Prices of all types of oil also increased simultaneously, of which diesel increased by 654 VND, not higher than 21,361 VND/liter; kerosene increased by 633 VND, not higher than 21,221 VND/liter; mazut increased by 308 VND, not higher than 15,906 VND/kg.

(VTC News)

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