Gasoline price on April 10 will drop sharply by nearly 2,000 VND/liter?

Gasoline prices expected to decline cyclically on April 10

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (April 10).

The leader of a major petroleum distribution company in the South said that after the previous adjustment period, crude oil prices plummeted to a four-year low.

On April 8, the price of imported gasoline in the Singapore market was at 73.41 USD/barrel for RON 95 gasoline, down more than 12 USD/barrel compared to 6 days ago; RON 92 gasoline was at 72.72 USD/barrel, down more than 11 USD/barrel. Therefore, it is likely that domestic gasoline prices will reverse to decrease in tomorrow's adjustment period.

Specifically, gasoline prices are expected to decrease by about VND1,350-1,700/liter, diesel may decrease by VND1,100-1,200/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly use the Price Stabilization Fund, gasoline prices may decrease more.

In addition, the owner of a petroleum distribution company in the North also predicted that petroleum prices will drop sharply in tomorrow's operating period. On April 8, the petroleum discount at some warehouses jumped to 2,000-2,500 VND/liter.

If forecasts are correct, domestic RON 95 gasoline prices will reverse after 3 consecutive increases. Currently, the price of this fuel has reached its lowest level in nearly 4 years, equivalent to July 2021. Since the beginning of the year, RON 95 gasoline has increased 8 times, decreased 6 times. Diesel has increased 7 times, decreased 6 times and remained unchanged once.

In the most recent adjustment period on April 3, the management agency decided to increase the price of E5 RON 92 gasoline by 340 VND/liter to 20,370 VND/liter; RON 95 gasoline increased by 490 VND/liter, to 20,910 VND/liter. Similarly, diesel increased by 260 VND/liter to 18,470 VND/liter, kerosene increased by 210 VND/liter, to 18,730 VND/liter; meanwhile, mazut increased by 120 VND/kg to 17,020 VND/kg.

In the world market, in the trading session on April 8, world oil prices remained stable after falling sharply due to increasing concerns about a global economic recession, stemming from escalating trade tensions between the US and China - the two largest economies in the world, according to Reuters.

Previously, as of April 7, WTI and Brent oil had fallen 14% and 15% respectively since US President Donald Trump announced the application of "reciprocal" tariffs on all imported goods on April 2.

Goldman Sachs forecasts Brent and WTI to hit $62 and $58 per barrel in December, respectively, and fall to $55 and $51 by the end of 2026 under a number of different scenarios. The US administration is prioritizing oil prices at $50 or lower, according to Natasha Kaneva, global head of commodity strategy at JP Morgan.

According to Trading Economics data, at 0:00 on April 9, WTI oil price was trading at 59.91 USD/barrel, down 3.44% compared to last week; similarly, Brent oil was also at 63.14 USD/barrel, down 3.79%.

Source: https://baohatinh.vn/gia-xang-ngay-104-se-giam-manh-gan-2000-donglit-post285658.html