Tomorrow (September 19) 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 first weekly increase after 3 weeks of decline. Overall, last week, Brent oil prices increased by about 0.8%, WTI oil prices increased by about 1.4%.

Oil prices continued to rise in the first two trading sessions of the week. After rising 2% in the first trading session of the week (September 16), world oil prices continued to increase by more than 1% in the session of September 17 due to increasing supply disruptions and traders betting that demand will increase if the US Federal Reserve (Fed) cuts interest rates.

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Tomorrow's gasoline prices are likely to move in opposite directions. Photo: Tuan Anh

However, at the beginning of the trading session on September 18, world oil prices decreased slightly after data showed that US gasoline and oil inventories increased.

According to data from Oilprice, at 9:12 a.m. on September 18 (Vietnam time), Brent oil was trading at $73.43 per barrel, down 0.37% from the previous session. WTI oil was at $70.93 per barrel, also down 0.37% from the previous session.

Meanwhile, imported gasoline prices in the Singapore market increased slightly compared to the previous period.

Based on the developments of world oil prices, some oil businesses believe that domestic oil prices at the adjustment period tomorrow (September 19) may fluctuate in opposite directions.

Oil and gas companies predict that if the regulatory agency does not affect the Oil and Gas Price Stabilization Fund, domestic gasoline prices could increase by VND180-320 per liter. Meanwhile, diesel prices are expected to decrease by VND120-230 per liter.

In case the regulatory agency sets aside the Petroleum Price Stabilization Fund, the possibility is that the petroleum price will remain the same as the previous adjustment period.

In the most recent gasoline price adjustment period (September 12), the prices of gasoline and oil were adjusted by the Ministry of Industry and Trade - Ministry of Finance in a sharp downward direction.

Specifically, the price of E5 gasoline decreased by VND1,080/liter, selling price is VND18,890/liter. The price of RON 95 gasoline decreased by VND1,190/liter, selling price is VND19,630/liter.

Similarly, diesel price was also adjusted down by VND930/liter, selling price is VND17,160/liter. Kerosene price also decreased by VND930/liter, selling price is VND17,790/liter.

Gasoline prices plummet, RON 95 is now just over 19,000 VND/liter. Gasoline prices in the operating period on September 12 decreased sharply, pulling the price of RON 95 gasoline down to just over 19,000 VND/liter.