Forecast of gasoline price increase, oil price decrease in the operating period on August 21

According to the Machine Learning model for forecasting gasoline and oil prices of the Vietnam Petroleum Institute (VPI), in the operating period on August 21, retail gasoline prices may increase slightly by 0.6 - 0.9%, while retail oil prices are forecast to decrease by 1.3 - 1.9% compared to the previous operating period.

Gasoline and oil prices are expected to have mixed developments in the operating period on August 21. Illustrative photo

VPI data analysts said that the retail price of E5 RON 92 gasoline could increase by VND116 (0.6%) to VND19,466/liter, while RON 95-III gasoline could increase by VND181 (0.9%) to VND20,061/liter.

During this period, retail oil prices tend to decrease, specifically kerosene prices may decrease by 1.9% to VND17,678/liter, diesel may decrease by 1.7% to VND17,761/liter, and fuel oil may decrease by 1.3% to VND15,057/kg.

VPI predicts that the Ministry of Finance and the Ministry of Industry and Trade will continue not to set aside or use the Gasoline and Oil Price Stabilization Fund this period.

Globally , crude oil prices continued to fall. On August 19, WTI crude oil fell to $63.08 per barrel, down 0.54% from yesterday. Brent oil fell to $66.08 per barrel, down 0.78%. The oil market is experiencing low liquidity and prices have been fluctuating within a narrow range this week, with ICE Brent oil hovering around $66 per barrel.

Source: https://hanoimoi.vn/du-bao-gia-xang-tang-gia-dau-giam-trong-ky-dieu-hanh-ngay-21-8-713222.html