Gasoline price on September 19 increase or decrease?

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (September 19).

The leader of a major petroleum distribution company in the South said that after the previous adjustment period, crude oil prices fluctuated slightly, increasing and decreasing in opposite directions.

On September 17, the price of imported gasoline in the Singapore market was at 82.54 USD/barrel for RON 95 gasoline, a slight increase of 2 USD/barrel compared to September 16; RON 92 gasoline was at 77.43 USD/barrel, an increase of 1.4 USD/barrel. Therefore, it is likely that domestic gasoline prices may increase during this adjustment period.

Specifically, gasoline prices are expected to increase by about 150-300 VND/liter, while diesel may decrease by about 100-200 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance draw from the Price Stabilization Fund, gasoline prices may decrease less.

Similarly, the owner of a petroleum distribution company in the North also predicted that gasoline and oil prices will fluctuate in opposite directions in tomorrow's operating period. The discount on gasoline on September 18 at many warehouses is currently around VND850-1,500/liter.

If forecasts are correct, domestic gasoline prices will have their fifth consecutive drop, bringing this commodity to its lowest level in more than three years. Since the beginning of the year, gasoline prices have increased 17 times and decreased 20 times; diesel has increased 16 times and decreased 19 times.

Currently, the room for the petroleum price stabilization fund of some key enterprises is still recording a large positive level because in many recent management periods, the fund has not been used. Of which, as of September 18, Petrolimex recorded a positive fund of VND 3,079 billion; PV Oil had a negative fund of more than VND 138 billion; Saigon Petro had a positive fund of VND 328 billion; Petimex had a positive fund of VND 460 billion...

In the most recent adjustment on September 12, the management agency decided to reduce the price of E5 RON 92 gasoline by VND1,080/liter to VND18,890/liter; RON 95 gasoline by VND1,190/liter to VND19,630/liter. Similarly, the price of diesel also decreased by VND930/liter to VND17,160/liter; the price of kerosene decreased by VND930/liter to VND17,790/liter. Fuel oil also decreased to VND14,460/kg.

In the world market, oil prices have recovered compared to last week. According to data from Trading Economics , at 8:30 a.m. on September 18, WTI oil prices decreased by 0.2% to 71.03 USD/barrel, Brent oil also decreased slightly by 0.27% to 73.5 USD/barrel.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-199-tang-hay-giam-20240918085249717.htm