Tomorrow (July 24, 2025) is the operating period. retail price of gasoline according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on petroleum trading.
In the world market, according to Oilprice, on the morning of July 23 (Vietnam time), Brent oil price decreased by 0.82 USD, equivalent to 1.2%, to 68.39 USD/barrel. Meanwhile, WTI decreased by 1.05 USD, equivalent to 1.6%, to 66.15 USD/barrel.
Oil prices continued to fall in the trading session on July 22, experts said, as hopes of a trade deal between the United States and Europe gradually faded, raising concerns about the risk of an economic recession in the world's largest oil consuming markets. Global crude oil prices fell slightly as investor sentiment weakened due to escalating trade tensions between the United States and the European Union.
Diesel oil was the biggest loser in the energy sector, reflecting concerns about the economy. The industrial fuel, used primarily in manufacturing, construction and heavy-duty transportation, has been the oil market leader in recent weeks amid tight global supplies. Low-sulfur U.S. crude also fell nearly 3% on Monday, to $102.50 a barrel.
However, energy consultancy Ritterbusch and Associates said the decline in oil prices could be limited if the US decides to ease or delay previously threatened tariffs.
Weakening macroeconomic expectations have led to lower expected demand for crude oil, putting downward pressure on prices. Market participants now appear to be more focused on demand-side risks, rather than the supply concerns that have dominated the year.
Based on the developments in world oil prices, oil companies believe that domestic oil prices tomorrow, July 24, may be adjusted down. Specifically, if the regulatory agency does not affect the Oil Price Stabilization Fund, domestic oil prices tomorrow may decrease by 120-130 VND/liter. Diesel prices may be adjusted down by 350 VND/liter.
In case the executive agency uses the Stabilization Fund, Gasoline price can be kept.
Similarly, the Vietnam Petroleum Institute (VPI)'s Machine Learning-based gasoline price forecast model shows that, in the operating period tomorrow, July 24, the retail price of E5 RON 92 gasoline is forecasted to decrease by VND 160 to VND 19,320/liter, while RON 95-III gasoline may decrease by VND 162 to VND 19,758/liter.
Meanwhile, VPI's model forecasts that retail oil prices this period will increase slightly from 0.8 - 2%, specifically diesel may increase by 374 VND (2%) to 19,164 VND/liter, kerosene may increase by 1.1% to 18,624 VND/liter, and fuel oil is forecast to increase by 0.8% to 15,343 VND/kg. VPI forecasts that the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Previously, in the July 17th operating session of The Ministry of Finance and Industry and Trade jointly adjusted gasoline prices down and oil prices up. Specifically, the price of E5 RON92 gasoline decreased by 178 VND/liter, not higher than 19,481 VND/liter. The price of RON95 gasoline decreased by 165 VND/liter, not higher than 19,925 VND/liter.
Diesel price decreased by 38 VND/liter, down to 18,799 VND/liter. Fuel oil price decreased by 85 VND/kg, not higher than 15,478 VND/kg. Kerosene price alone increased by 58 VND/liter, not higher than 18,429 VND/liter.
Source: https://baoquangninh.vn/du-bao-gia-xang-giam-trong-ky-dieu-hanh-ngay-mai-24-7-3368106.html
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