Will gas prices continue to rise?

Businesses forecast, Gasoline price RON 95 and E5RON92 may increase by 330 VND/liter; diesel oil increases by 300 VND/liter, kerosene increases by 390 VND/liter. Mazut oil decreases by 30 VND/kg

Brent crude futures rose 2 cents, or 0.03%, to $73.02 a barrel. WTI crude futures fell 11 cents, or 0.16%, to $69 a barrel.

March 25, Gasoline price Import price in Singapore market is at 83.15 USD/barrel for RON 95 gasoline, up more than 2 USD/barrel compared to 6 days ago; RON 92 gasoline is at 81.91 USD/barrel, up more than 1 USD/barrel.

Given the fluctuations in world oil prices, key enterprises forecast that in the operating period tomorrow (March 27), the prices of RON 95 and E5RON92 gasoline may increase by VND330/liter; diesel oil will increase by VND300/liter, kerosene will increase by VND390/liter. Fuel oil will decrease by VND30/kg.

In case Ministry of Industry and Trade - Finance uses the Price Stabilization Fund, the fluctuation level may change. If as forecasted, this is the second consecutive time that gasoline prices have increased.

Businesses predict gasoline prices will increase tomorrow (March 27).

The price of RON95 gasoline is currently trading at VND20,087/liter, the price of E5 RON 92 gasoline is VND19,695/liter. Meanwhile, the price of diesel is VND17,893/liter. The price of kerosene is VND18,118/liter.

Regarding the management of gasoline prices, the Ministry of Industry and Trade has just issued Circular 18, abolishing Articles 10, 11, 12 and 13 in Joint Circular No. 39 of the Minister of Industry and Trade and the Minister of Finance. Finance on the method of calculating base price; mechanism for forming, managing and using the Gasoline Price Stabilization Fund and regulating gasoline prices.

With this abolition, the interdisciplinary team mechanism in petrol price management will no longer exist. Instead, based on data on the elements constituting the base price of gasoline and the opinion of the Ministry of Finance, the Ministry of Industry and Trade will announce the base price and the selling price of gasoline.

The Ministry of Industry and Trade determines the most consumed gasoline and oil products in the groups of bio-fuel, mineral gasoline, diesel oil, kerosene and fuel oil to announce the base price.

In addition, Circular 18 supplements regulations on reporting on the use of petroleum warehouses applicable to petroleum wholesalers and petroleum distributors who own petroleum warehouses for lease and those who rent petroleum warehouses; assigns state management responsibility for the use of warehouses.

Source: https://baoquangninh.vn/gia-xang-se-tiep-tuc-tang-3350224.html