Based on the world price developments, some opinions say that domestic gasoline prices may decrease by 100 - 350 VND/liter, diesel prices may decrease by about 350 - 400 VND/liter. If the above forecast is correct, domestic gasoline prices will decrease this afternoon after being adjusted up last week.
Domestic gasoline prices may decrease slightly this afternoon. (Illustration photo: Minh Duc).
Meanwhile, the gasoline price forecast model of the Vietnam Petroleum Institute (VPI) shows that, in the operating period on December 5, gasoline prices may fluctuate from 0.1 - 1.9% if the Ministry of Finance - Industry and Trade does not set aside or use the gasoline price stabilization fund.
VPI forecasts that the retail price of E5 RON92 gasoline may decrease to VND19,780/liter, and that of RON95 gasoline may decrease to VND20,480/liter. Meanwhile, oil prices may fluctuate as fuel oil is forecast to increase slightly by 0.1% to VND16,137/kg, while diesel prices may decrease by 1.9% to VND18,405/liter, and kerosene prices may decrease by about 1.8% to VND18,802/liter.
VPI also believes that the joint Ministry of Finance and Industry and Trade will continue not to set aside or use the gasoline price stabilization fund this time.
In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.
Diesel price increased by VND268/liter, not higher than VND18,777/liter. Kerosene increased by VND221/liter, not higher than VND19,142/liter and fuel oil price increased by VND111/kg, to VND16,125/kg.
On the world market, at 6:00 a.m. this morning, December 5, Brent oil price decreased by 1.31 USD, equivalent to 1.78%, to 72.31 USD/barrel. WTI oil price decreased by 1.4 USD, equivalent to 2%, to 68.54 USD/barrel.
Analysts said the market was in a wait-and-see mode as investors focused on the OPEC+ meeting today. Industry sources said OPEC+ is likely to extend the production cuts until the end of the first quarter of 2025.
While there is expected to be a delay in unwinding the production cuts, the comments at the OPEC+ meeting will have the biggest impact, according to Matt Smith, Kpler's top oil analyst for the Americas.
OPEC+ maintained its supply cuts throughout the year, citing weak demand from China. The group had planned to gradually increase production in the final months of the year, but weak demand amid rising supply from non-OPEC+ sources forced the plan to be postponed.
Source: https://vtcnews.vn/gia-xang-dau-trong-nuoc-hom-nay-co-the-quay-dau-giam-ar911489.html
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