According to the schedule, tomorrow (September 12) 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 the third consecutive week of decline. Overall, last week, Brent oil prices fell by 10%, WTI oil prices fell by 8%.

This week, after increasing by 1% in the first trading session of the week (September 9), world oil prices turned sharply down in the session of September 10. Oil prices plummeted when the Organization of the Petroleum Exporting Countries (OPEC) lowered its demand forecast for this year and 2025.

At the end of the trading session on September 10, Brent oil price decreased by 3.69% to 69.19 USD/barrel, the lowest level since December 2021. WTI oil price decreased by 4.31% to 65.75 USD/barrel.

At the beginning of the trading session on September 11, world oil prices tended to recover. According to data from Oilprice, at 7:48 a.m. on September 11 (Vietnam time), Brent oil was traded at 69.56 USD/barrel, up 0.53% compared to the previous session. Meanwhile, WTI oil was at 66.19 USD/barrel, up 0.67% compared to the previous session.

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Domestic gasoline prices may decrease in tomorrow's adjustment period. Photo: Minh Hien

Based on the developments in world oil prices, some oil companies believe that domestic gasoline prices at the adjustment session tomorrow (September 12) will likely be adjusted downward.

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 VND1,050-1,250 per liter. Diesel prices are expected to decrease by VND950-1,050 per liter.

In case the operator draws from the Stabilization Fund, the gasoline price may decrease less.

If the above forecast is correct, the price of domestic petroleum products will decrease for the fourth consecutive time. Accordingly, the price of RON 95 gasoline will fall below 20,000 VND/liter.

In the most recent gasoline price adjustment period (September 5), the prices of gasoline and oil were jointly adjusted downward by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by 360 VND/liter, selling price to 19,970 VND/liter. The price of RON 95 gasoline decreased by 280 VND/liter, selling price to 20,820 VND/liter.

Similarly, diesel price also decreased by 380 VND/liter, down to 18,090 VND/liter. Kerosene price decreased by 340 VND/liter, down to 18,720 VND/liter.

Gasoline prices decreased for the third consecutive time, RON 95 down to below 21,000 VND/liter. Domestic gasoline prices today (September 5) were adjusted down for the third consecutive time by the Ministry of Industry and Trade - Ministry of Finance.