How much does gasoline price increase per liter today?

Gasoline prices in today's management period (October 23) are forecast to increase slightly after two consecutive decreases.

Leaders of some retail and wholesale businesses said that recently, the average price of finished gasoline in the Singapore market has tended to increase compared to the previous period.

World oil prices increased slightly last week, by more than 1%. Brent crude oil prices ended the week at 92.16 USD/barrel, while WTI crude oil prices were at 88.08 USD/barrel.

Based on world price developments, domestic businesses forecast that in today's management session, October 23, gasoline prices may be adjusted up slightly.

"It is forecasted that E5 RON 92 gasoline may increase by 400 VND/liter, RON 95 gasoline by 440 VND/liter, and diesel by 90 VND/liter. Kerosene prices may increase by 230 VND/liter, and fuel oil by 240 VND/kg. If the above forecast is correct, gasoline prices will increase again after two consecutive sharp declines. If the joint ministries use the stabilization fund, gasoline prices may increase less," said Dr. Giang Chan Tay, Director of Boi Ngoc One Member Co., Ltd. (Tra Vinh).

Meanwhile, Ms. Phung Thi Hong, Director of Hong Minh Petroleum Company Limited, a leading enterprise, predicted that the world oil price last week fluctuated in a slightly upward direction. Therefore, the domestic oil price today will be adjusted in an upward direction.

"Gasoline prices may increase by 350 - 500 VND/liter, not including the provisions for the gasoline price stabilization fund and other taxes and fees if there are changes. Oil prices may increase less, around 300 VND/liter/kg," Ms. Hong said.

According to Decree 95/2021/ND-CP on petroleum trading, October 21 is the date for adjusting domestic petroleum retail prices. However, due to coinciding with a holiday according to State regulations, it will be moved to the first working day after the holiday, which is October 23.

Currently, the retail prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of October 11 of the Ministry of Finance - Industry and Trade.

Specifically, the price of E5 RON92 gasoline decreased by VND1,595/liter, not higher than VND21,907/liter. The price of RON95 gasoline was not higher than VND23,044/liter, a decrease of VND1,798/liter.

Oil prices also decreased. Diesel prices were no higher than VND22,410/liter, down VND1,184/liter. Kerosene prices were at VND22,464/liter, down VND1,352/liter compared to the current retail price. Fuel oil prices were down to VND16,238/kg, down VND1,214/kg.

Thus, since the beginning of the year, gasoline prices have undergone 29 adjustments, including 16 increases, 9 decreases and 4 unchanged.

(VTC News)

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