Domestic gasoline prices tomorrow (February 20) are expected to increase for the second consecutive time following world prices.
Tomorrow (February 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.
At 6:00 a.m. on February 19, the price of WTI oil decreased by 0.08 USD, equivalent to 0.11%, to 71.77 USD/barrel. The price of US Brent oil increased by 0.62 USD, equivalent to 0.82%, to 75.84 USD/barrel.
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| Gasoline prices are forecast to continue to increase tomorrow, February 20. Illustrative photo |
Brent crude oil prices rose today on concerns about growing supply disruptions in Russia and the United States. The Kropotkinskaya oil pumping station in Russia's southern Krasnodar region, part of the Caspian Pipeline Consortium (CPC) pipeline, which transports crude oil from Kazakhstan to world markets, was attacked by drones.
Brent prices have benefited from the CPC supply disruption, but overall the key is how long and how severe the disruption will be, said UBS analyst Giovanni Staunovo.
Traders are also awaiting clarity on whether the Organization of the Petroleum Exporting Countries and its allies (OPEC+) will continue with plans to increase oil supply from April or delay it to a later date.
Based on the developments in world oil prices, some oil companies believe that domestic gasoline prices may be adjusted upward in the February 20 adjustment period. Specifically, if the regulatory agency does not affect the Oil Price Stabilization Fund, domestic gasoline prices may increase by about VND220-250/liter.
In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said that in the operating period on February 20, the retail price of E5 RON 92 gasoline could increase by VND 453 (2.2%) to VND 21,043/liter, while RON 95-III gasoline could only increase slightly by 0.6% to VND 21,196/liter.
Meanwhile, VPI's model predicts that retail oil prices will tend to decrease this period. Of which, diesel may decrease by 0.4% to VND18,994/liter, kerosene may decrease by 0.5% to VND19,373/liter, and fuel oil may decrease by 1.5% to VND17,503/kg. VPI predicts that the Ministry of Finance and the Ministry of Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Previously, the operating period on February 13, was adjusted up by the Ministry of Industry and Trade - Ministry of Finance, specifically, E5 RON92 gasoline increased by 156 VND/liter, not higher than 20,598 VND/liter. RON95 gasoline price increased by 146 VND/liter, not higher than 21,074 VND/liter.
Diesel price increased by 19 VND/liter, not higher than 19,073 VND/liter. Kerosene increased by 59 VND/liter, not higher than 19,473 VND/liter and fuel oil increased by 425 VND/kg, not higher than 17,779 VND/kg.
During this operating period, the management agency continues not to set aside or use the price stabilization fund for all goods.
Source: https://congthuong.vn/gia-xang-du-bao-tang-trong-ky-dieu-hanh-ngay-mai-202-374610.html
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