According to price forecasts from businesses, domestic gasoline prices tomorrow (January 2) may increase by about 190 VND/liter; oil prices may increase by 120-130 VND/liter.
Updated gasoline price data on the Singapore market - Vietnam's largest petroleum import market until December 31, 2024 shows that gasoline 92 is trading at 82.15 USD/barrel, gasoline 95 is trading at 85.4 USD/barrel. These prices both increased by nearly 2 USD/barrel compared to a week earlier.
According to petroleum wholesalers, the price of imported gasoline has been increasing continuously in recent days. Therefore, it is forecasted that on January 2, RON 95 gasoline price and E5 RON 92 gasoline may increase by 190 VND/liter. Kerosene, diesel, and fuel oil will increase by 120-130 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance spend the Stabilization Fund, gasoline prices may increase slightly.
A representative of a large petroleum distribution enterprise in the North also predicted that gasoline prices will rebound in the first operating period of 2025. The gasoline discount on December 31, 2024 at many warehouses fluctuates around 1,000-1,200 VND/liter.
Since the beginning of the year, gasoline has increased 24 times and decreased 27 times. Diesel has increased 22 times and decreased 28 times.
Previously, in the operating period on December 26, 2024, the joint ministries reduced the price of E5 RON 92 gasoline by 430 VND/liter to 19,810 VND/liter; RON 95 gasoline decreased by 460 VND/liter to 20,540 VND/liter. Similarly, the price of diesel oil decreased by 100 VND/liter to 18,630 VND/liter; kerosene decreased by 260 VND/liter to 18,700 VND/liter; meanwhile, mazut oil increased by 70 VND/kg to 15,970 VND/kg.
On the world market on the morning of January 1, WTI oil price increased by 73 cents, equivalent to 1.03%, to 71.72 USD/barrel. Brent oil price increased by 65 cents, equivalent to 0.88%, to 74.64 USD/barrel.
Oil prices edged higher on Tuesday as investors bet on falling temperatures across the US and Europe in the coming weeks to boost diesel demand.
According to a preliminary survey of Reuters U.S. natural gas futures jumped 17% on Monday to their highest level since January 2023, boosted by weather forecasts and rising export demand.
Oil prices could continue to be supported by a decline in US crude inventories, which are expected to have fallen by about 3 million barrels last week.
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