Gasoline prices expected to fall for third consecutive time

Domestic gasoline prices tomorrow (March 13) are expected to decrease for the third consecutive time following world prices.

Tomorrow (March 13, 2025) 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.

Domestic gasoline prices tomorrow (March 13) are expected to decrease for the third consecutive time following world prices.

Photo: Thanh Tuan

On the world market, at 6:00 a.m. on March 12, WTI oil price was at 66.59 USD/barrel, up 0.37 USD/barrel, US Brent oil price was at 69.56 USD/barrel, up 0.28 USD/barrel.

Oil prices rose less than 1% amid a weakening dollar, investor concerns about the risk of a US recession and the impact of tariffs on global economic growth.

The US dollar index has fallen to a four-month low, making oil cheaper for overseas buyers, Reuters reported.

Oil prices pared gains after US President Donald Trump on March 11 instructed the Secretary of Commerce to impose an additional 25% tariff on all steel and aluminum imported from Canada, bringing the total tariff on these products to 50%.

These developments are adding to the volatility in oil prices, said senior analyst Phil Flynn of Price Futures Group.

Based on the developments in world oil prices, some oil and gas businesses commented that domestic oil prices in the adjustment period on March 13 continued to be adjusted down following the trend of world oil prices.

Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by about VND680-780 per liter. Similarly, diesel prices are likely to be adjusted down by about VND330-450 per liter.

In case the regulatory agency draws from the Stabilization Fund, gasoline prices may decrease less.

In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said that in the operating period on March 13, the retail price of E5 RON 92 gasoline is forecast to continue to decrease by VND 499 (2.5%) to VND 19,461/liter, while RON 95-III gasoline may decrease by VND 551 (2.7%) to VND 19,849/liter.

VPI's model predicts that retail oil prices this period will also tend to decrease, in which fuel oil may decrease sharply by 4.1% to 16,447 VND/kg, diesel may decrease by 1.8% to 18,000 VND/liter, and kerosene is forecast to decrease insignificantly by 0.3% to 18,514 VND/liter.

VPI predicts that the Ministry of Industry and Trade - Ministry of Finance will continue not to set aside or use the Petroleum Price Stabilization Fund this time.

Previously, on March 6, the Ministry of Industry and Trade and the Ministry of Finance adjusted the gasoline price downward. Specifically, the price of RON 95 gasoline decreased by VND710/liter, the selling price was VND20,400/liter.

Similarly, the price of E5 gasoline was also adjusted down by 690 VND/liter, the selling price down to 19,960 VND/liter.

Meanwhile, diesel price was adjusted down by 620 VND/liter, selling price to 18,330 VND/liter.

In this operating 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 fuel oil.

Source: https://congthuong.vn/ngay-mai-133-gia-xang-du-bao-giam-lan-thu-ba-lien-tiep-377868.html