According to the plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust the retail price of gasoline sometime tomorrow (July 3). The leader of a major gasoline distribution enterprise in the South said that after the previous adjustment period, crude oil prices continued to decrease.
On June 30, the price of imported gasoline in the Singapore market was at 79.2 USD/barrel for RON 95 gasoline, down more than 3 USD/barrel compared to 6 days ago; RON 92 gasoline was at 77.39 USD/barrel, down nearly 4 USD/barrel. It is likely that domestic gasoline prices will continue to decrease in tomorrow's adjustment period.
Obviously, gasoline prices are expected to decrease by about VND1,200-1,400/liter, while diesel prices may decrease by VND900-1,000/liter. In case the Ministry of Industry and Trade and the Ministry of Finance use the Price Stabilization Fund, gasoline prices may decrease more.
The owner of a petroleum distribution company in the North also predicted that petroleum prices will drop sharply in tomorrow's operating period. On July 1, the petroleum discount at some depots reached a high of 1,700-2,500 VND/liter.
If forecasted, domestic RON 95 gasoline prices will decrease for two consecutive sessions after five increases. Currently, the price of this fuel is at a four-year low, equivalent to July 2021. Since the beginning of the year, RON 95 gasoline has increased 14 times and decreased 12 times. Diesel has increased 13 times, decreased 12 times and remains unchanged once.
In the most recent adjustment on July 1 - the time when the policy of reducing value added tax (VAT) took effect, the regulatory agency decided to reduce E5 RON 92 gasoline by 380 VND/liter to 20,530 VND/liter; RON 95 gasoline also decreased by 390 VND/liter compared to the adjustment on June 26, to 21,110 VND/liter. Diesel oil decreased by 360 VND/liter to 19,340 VND/liter; kerosene decreased by 350 VND/liter to 19,060 VND/liter; fuel oil decreased by 310 VND/kg to 16,950 VND/kg.
In the world market, in the trading session on July 1, oil prices fell slightly as investors assessed that geopolitical risks in the Middle East were cooling down and that OPEC+ was considering increasing production from August. However, oil prices still recorded an increase for the second consecutive month, according to Reuters.
Earlier, the conflict between Iran and Israel on June 13 pushed oil prices above $80/barrel. The price of this commodity fell to $67/barrel after the announcement of the ceasefire.
Data from Trading Economics shows that at 7:00 am on July 2, WTI oil was trading at $65.42 per barrel, down 0.11% from last week; Similarly, Brent oil was also at $67.21 per barrel, up 0.62%.
Source: https://dantri.com.vn/lanh-doanh/gia-xang-ngay-mai-se-giam-hon-1000-donglit-20250702011649067.htm
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