Domestic gasoline prices at tomorrow's adjustment session (December 5) are forecast to initially decrease after increasing last week.
Tomorrow (December 5) 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.
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| Domestic gasoline prices at the adjustment session tomorrow (December 5) are forecast to initially decrease after increasing last week. Photo: TT |
At 10:00 a.m. (Vietnam time) today, Brent crude oil price reached 72.28 USD/barrel and West Texas Intermediate (WTI) crude oil price reached 68.43 USD/barrel. At the end of yesterday's trading session, both Brent crude oil price and WTI crude oil price increased by 0.6%.
Although oil prices increased in the adjustment session at the beginning of the week, in the trading sessions at the end of last week, the prices of oil products plummeted.
OPEC+ currently supplies about half of the world’s oil. The group is looking to gradually ease supply cuts next year. But the prospect of a surplus has weighed on oil prices, with Brent trading nearly 6% below its December 2023 average.
The extension of OPEC+ supply cuts will limit the glut in the market and help the oil market land more gently than most forecast, according to Scott Shelton, energy analyst at TP ICAP.
Based on the developments in world oil prices, some oil businesses believe that domestic oil prices at the adjustment period on December 5 may be adjusted upward.
If the regulatory agency does not tap the Petroleum Price Stabilization Fund, domestic gasoline prices could fall by VND60-350 per liter. Similarly, diesel prices could fall by VND360-400 per liter. In case the regulatory agency taps the Petroleum Price Stabilization Fund, gasoline prices could fall less or remain the same.
In the most recent adjustment period on November 28, the prices of all types of gasoline and oil were adjusted up by the Ministry of Industry and Trade - Ministry of Finance.
Specifically, the price of E5 RON 92 gasoline decreased by VND109/liter, down to VND19,343/liter; RON 95 gasoline decreased by VND79/liter, down to VND20,528/liter.
Diesel 0.05S price: Decreased by 64 VND/liter, down to 18,509 VND/liter; Kerosene decreased by 67 VND/liter, down to 18,921 VND/liter. Particularly, fuel oil 180CST 3.5S price increased by 5 VND/kg, at 16,014 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.
Source: https://congthuong.vn/gia-xang-dau-du-bao-quay-dau-giam-trong-ky-dieu-hanh-ngay-mai-5122024-362414.html
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