Gasoline prices will increase tomorrow?

According to forecasts from businesses, in the operating period tomorrow (December 19), domestic gasoline prices may increase by 300-480 VND/liter.

Recorded on the world market, this morning (December 18), Brent oil price decreased by 72 cents, equivalent to 1%, to 73.19 USD/barrel. WTI oil price decreased by 63 cents, equivalent to 0.9%, to 70.08 USD/barrel.

Oil prices continued to decline on demand concerns after negative economic news from Germany and China, while investors remained cautious ahead of the US Federal Reserve's decision on interest rates.

In China - the world's second-largest economy, industrial output growth picked up slightly in November, while retail sales were much weaker than expected.

In the Singapore market - where Vietnam signed an import agreement gasoline Currently, the latest updated data as of December 17 shows that gasoline 92 is trading at 82.2 USD/barrel, gasoline 95 is at 85.5 USD, a slight increase compared to last week. Meanwhile, oil prices increased more strongly, about 1-2 USD/barrel.

Gasoline prices are expected to increase across the board tomorrow (December 19).

According to petroleum companies, the price of RON 95 gasoline is forecasted to increase by VND420/liter tomorrow, and E5 RON 92 gasoline by VND380/liter. Oil prices will also increase by VND300-480/liter. In case the inter-ministerial committee uses the Petroleum Price Stabilization Fund, the increase may change.

Since the beginning of the year, gasoline has increased 23 times and decreased 26 times. Diesel has increased 21 times and decreased 27 times.

Previously, on December 12, the Ministry of Industry and Trade - Ministry of Finance decided to increase the retail price of RON 95 by 33 VND/liter, to 20,596 VND/liter. The retail price of E5 RON 92 gasoline decreased slightly by 3 VND/liter, to 19,861 VND/liter.

Diesel price decreased by 127 VND/liter, down to 18,255 VND/liter. Kerosene retail price decreased by 251 VND/liter, down to 18,566 VND/liter. Fuel oil price decreased by 551 VND/kg, down to 15,574 VND/kg.

Show room Petroleum Price Stabilization Fund of some key enterprises still recorded a large positive level because in many recent management periods this fund has not been used. The fund balance as of the end of the second quarter was VND 6,061 billion, down VND 18 billion compared to the previous quarter and the fifth consecutive quarter of decrease. Compared to the end of 2023, this fund balance decreased by nearly VND 600 billion.

Source