Domestic gasoline prices may increase tomorrow, RON 95 regains the mark of 25,000 VND/liter

According to the schedule, tomorrow (May 2) 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.

Domestic gasoline prices are being affected by world gasoline prices and the Singapore market.

On the world market, world oil prices last week recorded a week of climbing after two consecutive weeks of decline.

However, this week, world oil prices have continuously decreased since the beginning of the week.

According to data from Oilprice, at 12:25 on May 1 (Vietnam time), Brent oil price was trading at 85.59 USD/barrel, down 0.74 USD, equivalent to 0.86% compared to the previous session. Meanwhile, WTI oil price was at 81.15 USD/barrel, down 0.78 USD, equivalent to 0.95% compared to the previous session.

In the Singapore market, in the recent period, the average price of finished gasoline in this market increased compared to the previous period. But the increase was not too large.

Gasoline prices may increase at tomorrow's adjustment period. Photo: Thanh Tung

Based on the developments in world oil prices, leaders of some oil companies believe that domestic gasoline prices may increase in the adjustment period tomorrow (May 2).

Petroleum businesses predict that if the regulatory agency does not spend the Petroleum Price Stabilization Fund (BOG Fund), the price of E5 RON 92 gasoline may increase by 60-80 VND/liter, and the price of RON 95 gasoline may increase by 70-90 VND/liter. Diesel prices may remain unchanged.

If the above forecast is correct, the price of RON 95 gasoline could regain the mark of 25,000 VND/liter.

In case the Ministry of Finance and Industry and Trade spends the BOG Fund, gasoline prices are likely to remain the same.

Since the beginning of the year, gasoline prices have increased 9 times, decreased 6 times, and changed in opposite directions twice.

In the most recent petrol price adjustment (April 25), retail prices of petrol products (except fuel oil) were adjusted downwards. Of which, the price of RON 95 petrol fell below VND25,000/liter.

Specifically, the price of E5 gasoline decreased by 310 VND/liter, the selling price is 23,910 VND/liter. The price of RON 95 gasoline decreased by 320 VND/liter, the selling price is 24,910 VND/liter.

Meanwhile, diesel price decreased by 730 VND/liter, selling price down to 20,710 VND/liter. Similarly, kerosene price decreased by 730 VND/liter, selling price down to 20,710 VND/liter.

Source vietnamnet.vn

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