Tomorrow afternoon (August 29) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.

In the world market, oil prices last week recorded a downward week. Overall, last week, Brent oil prices decreased by 0.06 USD/barrel, while WTI oil prices decreased by 1.82 USD/barrel.

This week, after increasing by more than 3% in the first trading session of the week, world oil prices turned to decrease by about 2% in the second trading session of the week (August 27).

At the beginning of the trading session on August 28, world oil prices increased slightly. According to data from Oilprice, at 8:21 a.m. on August 28 (Vietnam time), Brent oil was trading at 80 USD/barrel, up 0.57% compared to the previous session. Meanwhile, WTI oil was at 75.93 USD/barrel, up 0.53% compared to the previous session.

Based on the developments in world oil prices, some oil companies believe that domestic gasoline prices at the adjustment session tomorrow (August 29) will likely be adjusted down slightly.

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Domestic gasoline prices may be adjusted down further tomorrow. Photo: Chi Hung

Oil and gas companies predict that if the regulatory agency does not affect the Oil and Gas Price Stabilization Fund, domestic gasoline prices could decrease by VND220-320 per liter. Diesel prices are expected to decrease by VND430 per liter.

In case the operator deducts from the Stabilization Fund, the gasoline price may remain the same as the previous adjustment period.

If the above forecast is correct, domestic petroleum products will have a second consecutive decrease.

In the most recent gasoline price adjustment period (August 22), the prices of all types of gasoline were adjusted downward by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline decreased by 460 VND/liter, the selling price is 20,420 VND/liter. The price of RON 95 gasoline decreased by 540 VND/liter, the selling price is 21,310 VND/liter.

Similarly, diesel price was also adjusted down by 460 VND/liter, selling price at 18,770 VND/liter. Kerosene price decreased by 430 VND/liter, selling price at 19,140 VND/liter.