Gasoline prices are expected to increase again in the operating period tomorrow (March 20, 2025) according to world prices.
Tomorrow (March 20, 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.
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| Gasoline prices are expected to increase again in the operating period tomorrow (March 20, 2025) according to world prices. Photo: TT |
On the world market, at 6:00 a.m. this morning, March 19, WTI oil price was at 66.78 USD/barrel, down 0.12 USD/barrel, US Brent oil price was at 70.42 USD/barrel, down 0.65 USD/barrel.
The possibility of increased oil supplies from Russia and economic concerns related to Donald Trump’s trade tariffs are weighing on crude prices. The Organization for Economic Cooperation and Development (OECD) warned that the US tariffs would reduce economic growth in the US, Canada and Mexico and weigh on global energy demand.
Analysts at energy analytics firm Wood Mackenzie predict Brent crude will average $73 a barrel this year, down $7 a barrel from 2024 due to U.S. tariffs and OPEC+ production plans. Earlier this month, OPEC+ decided to increase oil production as planned in April.
Based on the developments in world oil prices, some oil and gas businesses believe that domestic oil prices at the adjustment period on March 20 are expected to increase following the trend of world oil prices.
Specifically, if the regulatory agency does not influence the Petroleum Price Stabilization Fund, domestic gasoline prices may increase by about VND630-730/liter. Similarly, diesel prices are likely to be adjusted up by VND130-170/liter. In case the regulatory agency spends the Petroleum Price Stabilization Fund, gasoline prices may increase less.
If the above forecast is correct, domestic RON 95 gasoline prices will increase after 3 consecutive sessions of decline.
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 20, the retail price of E5 RON 92 gasoline is forecast to increase by VND 125 (0.6%) to VND 19,405/liter, while RON 95-III gasoline may increase by VND 118 (0.6%) to VND 19,758/liter.
VPI's model also forecasts that retail oil prices will tend to decrease slightly this period. Of which, fuel oil may increase by 2% to VND17,322/kg, diesel may decrease by 0.2% to VND17,854/liter, and kerosene is forecast to remain the same or increase slightly to VND18,097/liter. VPI forecasts that the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Previously, on March 13, 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 VND760/liter, the selling price was VND19,640/liter.
Meanwhile, the price of E5 gasoline was also adjusted down by 680 VND/liter, the selling price down to 19,280 VND/liter.
Diesel price was adjusted down by 440 VND/liter, selling price to 17,890 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/gia-xang-du-bao-tang-tro-lai-vao-ngay-mai-sau-3-lan-giam-lien-tiep-378943.html
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