Domestic gasoline prices are about to decrease for the third consecutive time?

The leader of a southern petroleum retail company said that after the previous adjustment period, crude oil prices on the world market have continuously decreased, reaching the lowest level since the beginning of the month. At 6:00 a.m. on October 30, Brent oil price was at 71.12 USD/barrel, down 0.3 USD/barrel compared to yesterday. WTI oil price was listed at 67.48 USD/barrel, down 0.27 USD/barrel.

Meanwhile, in the Singapore market, on October 29, the price of imported RON95 gasoline was at 82.16 USD/barrel, down more than 2 USD/barrel compared to last week; RON92 gasoline was at 76.43 USD/barrel, down nearly 3 USD/barrel.

Gasoline prices are expected to decrease in the operating period tomorrow, October 31. (Illustration photo: Minh Duc)

With these developments, domestic gasoline prices are forecast to continue to decrease in the operating period tomorrow, October 31.

“Gasoline prices are expected to decrease by about 300 - 500 VND/liter, while diesel prices may increase by about 80 - 150 VND/liter/kg. If the Ministry of Industry and Trade and the Ministry of Finance draw from the price stabilization fund, gasoline prices may decrease less or remain the same,” said Mr. Nguyen Xuan Thang, Director of a petroleum company in the South.

If forecasts are correct, domestic gasoline prices will have their third consecutive decline. Currently, this fuel price is still at its lowest level in more than 3 years, equivalent to June 2021. Since the beginning of the year, gasoline has increased 20 times and decreased 22 times. Meanwhile, diesel prices have increased 18 times and decreased 23 times.

In the operating period on October 24, the price of E5 RON92 gasoline decreased by 38 VND/liter, not higher than 19,692 VND/liter. The price of RON95 gasoline decreased by 68 VND/liter, not higher than 20,894 VND/liter.

Meanwhile, diesel price also decreased by 264 VND/liter, to 18,057 VND/liter. Kerosene price decreased by 57 VND/liter, not higher than 18,570 VND/liter. Fuel oil price alone increased by 139 VND/kg, not higher than 16,229 VND/kg.

During this period, the executive agency continued not to set aside or use the price stabilization fund for all goods.

PHAM DUY

Source: https://vtcnews.vn/gia-xang-trong-nuoc-sap-giam-lan-thu-ba-lien-tiep-ar904705.html