How is gasoline price expected to be adjusted in the next operating session?

Gasoline prices are expected to decrease in the next adjustment session. Photo: Ngoc Le

On July 22, gasoline and oil prices increased slightly. The global benchmark Brent crude oil price increased by about 0.4%, trading at 83 USD/barrel; while the US WTI oil price increased by about 0.5%, trading at 80.5 USD/barrel.

However, in previous trading sessions, WTI oil prices fell 3.2% to $80.13/barrel, Brent oil prices fell 2.9% to $82.63/barrel, marking the second consecutive week of decline.

According to Reuters, drone attacks in the southern Gaza Strip over the weekend escalated violence in the Middle East. Tensions in the region continued to increase, threatening oil supplies. This pushed oil prices up. Meanwhile, earlier in the weekend session, also with the expectation of a ceasefire in Gaza, oil prices fell sharply by 3%.

Domestically, according to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. It is forecasted that in the next price adjustment period (Thursday, July 25), petroleum prices may decrease simultaneously, the decrease is about 100 - 200 VND/liter.

If the managing agency is the Ministry of Industry and Trade - Ministry of Finance and only uses the Petroleum Price Stabilization Fund, the reduction will be stronger. On the contrary, if the managing agency sets aside the Petroleum Price Stabilization Fund, the gasoline price will remain the same compared to the previous adjustment period.

Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 16 times and decreased 13 times. Oil prices have increased 15 times and decreased 14 times.

On July 22, the retail price of gasoline in the market of region 1 (near ports, warehouses, refineries...) of Petrolimex was announced as follows: RON 95-V gasoline 23,700 VND/liter, RON 95-III gasoline 23,170 VND/liter, E5 RON92 gasoline 22,170 VND/liter, diesel oil 20,700 VND/liter, kerosene 20,660 VND/liter, fuel oil 17,610 - 20,600 VND/kg (wholesale price).

Source: https://laodong.vn/kinh-doanh/gia-xang-du-bao-dieu-chinh-ra-sao-trong-phien-dieu-hanh-toi-1369843.ldo