Is gas price going up or down?

World oil prices are falling to their lowest level in 2 months. Faced with this fluctuation, businesses predict that domestic gasoline prices tomorrow (February 27) may decrease by 100-150 VND/liter.

Update data Gasoline price Import prices on the Singapore market as of February 24 showed that gasoline 92 was trading at 84.4 USD/barrel, gasoline 95 was at 85.8 USD/barrel, down about 2 USD/barrel compared to a week earlier.

In the world market, oil prices have continuously decreased due to concerns about slowing energy demand as the US and German economies show signs of decline.

Specifically, at 9:00 a.m. this morning (February 26), the price of Brent crude oil reached 73.23 USD/barrel and the price of Texas light sweet crude oil (WTI) reached 69.16 USD/barrel. At the end of yesterday's trading session, the prices of Brent crude oil and WTI crude oil both decreased by more than 2%.

Gasoline prices are expected to fall on February 27.

According to key businesses, before the fluctuations Domestic gasoline prices, domestic gasoline prices will likely turn down in tomorrow's management period.

Specifically, gasoline prices are expected to decrease by about 100-150 VND/liter, while diesel and kerosene may decrease slightly by 30-100 VND/liter. If forecasts are correct, gasoline prices will decrease after two consecutive increases. In case If the Ministry of Industry and Trade and the Ministry of Finance use the Stabilization Fund, gasoline prices can remain the same.

Previously, on February 20, the Ministry of Industry and Trade - Ministry of Finance decided to increase the retail price of RON 95 by 257 VND/liter, to 21,331 VND/liter. The retail price of E5 RON 92 gasoline increased by the same amount to 20,855 VND/liter. The price of diesel oil decreased slightly by 10 VND/liter, to 19,063 VND/liter. The retail price of kerosene increased by 40 VND/liter, to 19,513 VND/liter; fuel oil decreased by 183 VND/kg to 17,596 VND/kg.

The Ministry of Industry and Trade and the Ministry of Finance do not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

Thus, since the beginning of the year, domestic gasoline prices have undergone 8 adjustment sessions, including 2 decrease sessions, 4 increase sessions and 2 opposite sessions.

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