Accordingly, the price of RON 95 gasoline may decrease by 300 VND/liter; E5 RON 92 gasoline by 350 VND/liter; oil by 400 - 500 VND/liter/kg.
Specifically, on the morning of February 21, Brent oil price was trading at 82.33 USD/barrel, down 1.22 USD compared to early yesterday morning. Meanwhile, WTI oil price was at 78.18 USD/barrel, down 1.01 USD compared to early yesterday morning.
Oil prices fell as the International Energy Agency (IEA) released a report predicting that oil demand this year will fall to 1.22 million barrels per day, about half the growth rate of 2023, lower than the previous forecast of 1.24 million barrels per day.
In addition, a larger-than-expected increase in US producer prices in January raised concerns about inflation and the appreciation of the US dollar also negatively impacted oil prices.
Domestically, the reference price of finished petroleum products on the Singapore market this morning continued to decrease slightly following the downward trend of world prices.
Based on world oil prices, some petroleum businesses predict that domestic prices at the adjustment session tomorrow afternoon (Thursday, (February 22) may decrease slightly.
Gasoline prices are forecast to decrease slightly tomorrow afternoon. (Illustration: Cong Hieu).
“The forecast for gasoline prices is to decrease by 300-500 VND/liter, and oil prices will also decrease similarly, by 400-500 VND/liter/kg. The forecast for gasoline prices above does not take into account the management agency’s allocation or use of the Price Stabilization Fund,” said Mr. Nguyen Xuan Thang, Director of Hai Au Phat Company Limited.
According to Mr. Thang, the discount rate from distributors and wholesale businesses to agents in the past few days has been "more comfortable" than during the Lunar New Year, ranging from 1,150 - 1,500 VND/liter.
“This is a discount level that ensures retail businesses make a slight profit and maintain the supply of gasoline to the market,” said Mr. Thang.
Currently, the selling prices of gasoline and oil are being applied according to the price of the operating session on the afternoon of February 15. Specifically, the price of E5 RON92 gasoline increased by 711 VND/liter, not higher than 22,831 VND/liter; RON95 gasoline increased by 675 VND, not higher than 23,919 VND/liter.
Prices of all types of oil also increased simultaneously, of which diesel increased by 654 VND, not higher than 21,361 VND/liter; kerosene increased by 633 VND, not higher than 21,221 VND/liter; mazut increased by 308 VND, not higher than 15,906 VND/kg.
Thus, gasoline prices have increased again after the first decrease in 2024. Previously, gasoline prices had increased 4 times in a row since the beginning of the year.
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