According to businesses, domestic gasoline prices tomorrow (January 23) may change in opposite directions. Gasoline prices may decrease slightly, while oil prices may increase.
Updated data on the Singapore market as of January 21 shows that gasoline 92 is trading at 83.4 USD/barrel, gasoline 95 is at 85.8 USD/barrel, down about 2 USD/barrel compared to 7 days ago.
According to businesses, it is likely that domestic gasoline price will reverse to decrease in the operating period tomorrow (January 23). Specifically, gasoline prices are expected to decrease by about 50-150 VND/liter.
However, diesel prices may increase by VND630/liter, kerosene by VND570/liter, and fuel oil by VND650/liter. Since the beginning of the year, gasoline and diesel prices have increased for three consecutive sessions.
Stabilization fund space Gasoline price of some key enterprises still recorded a large positive level due to many operating periods not using the fund. The fund balance as of the end of the second quarter of 2024 was VND 6,061 billion, down VND 18 billion compared to the previous quarter and the 5th consecutive quarter of decrease. Compared to the end of 2023, this fund balance decreased by nearly VND 600 billion.
In the most recent adjustment period on January 16, the Ministry of Industry and Trade - Ministry of Finance increased the price of E5 RON 92 gasoline by 320 VND/liter to 20,750 VND/liter; RON 95 gasoline increased by 210 VND/liter, to 21,220 VND/liter. Similarly, diesel oil also increased by 540 VND/liter to 19,780 VND/liter; kerosene increased by 460 VND/liter, to 19,700 VND/liter; and fuel oil also increased by 1,000 VND/kg to 17,180 VND/kg.
In the world market, oil prices continuously decreased after information from the inaugural speech of the 47th US President Donald Trump.
Accordingly, Mr. Trump signed an executive order to withdraw from the Paris Agreement on climate, increase production of gasoline cars and demand increased oil exploitation to reduce energy prices.
The United States has large oil resources, especially shale oil, which has the potential to influence global crude oil prices. As the United States no longer restricts oil production to combat climate change, increased supply will lead to lower gasoline prices.
The bank The US has also proposed a scenario where oil prices will fall to the $60/barrel range in the coming period.
The market is expecting positive changes in oil prices in the near future. At the same time, the decrease in oil prices will help reduce business costs, leading to a decrease in commodity prices.
On the morning of January 22, Brent oil price fell to 79.2 USD/barrel. WTI oil price fell to 75.8 USD/barrel.
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