Will gas prices increase or decrease tomorrow?

According to the plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust the retail price of gasoline periodically tomorrow (July 17). The leader of a major gasoline distribution enterprise in the South said that after the previous adjustment period, crude oil prices increased and decreased in opposite directions.

On July 14, the price of imported gasoline in the Singapore market was at 80.84 USD/barrel for RON 95 gasoline, up nearly 1 USD/barrel compared to 5 days ago; RON 92 gasoline was at 79.15 USD/barrel, also up nearly 1 USD/barrel. It is likely that domestic gasoline prices will decrease slightly during the adjustment period on July 17.

Gasoline prices are expected to decrease by about VND50-150/liter. Meanwhile, diesel prices may increase by another VND100-250/liter. In case the joint ministries use the Price Stabilization Fund, gasoline prices may remain unchanged.

The owner of a petroleum distribution company in the North also predicted that petroleum prices will fluctuate in opposite directions in tomorrow's operating period. On July 15, the petroleum discount at some depots was at 1,000-1,400 VND/liter.

If forecasts are correct, domestic gasoline prices will decrease slightly after just one increase. Currently, this fuel price is at a 4-year low, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 16 times, decreased 13 times. Diesel has increased 15 times, decreased 13 times and remained unchanged once.

In the most recent adjustment on July 10, E5 RON 92 gasoline increased by VND210/liter to VND19,650/liter; RON 95 gasoline also increased by VND190/liter, to VND20,090/liter. Diesel increased by VND430/liter to VND18,830/liter, kerosene increased by VND240/liter to VND18,370/liter; meanwhile, fuel oil decreased by VND240/kg to VND15,560/kg.

On the world market, oil prices fell nearly 1% in the trading session on July 15 after US President Donald Trump gave Russia a 50-day deadline to reach a ceasefire agreement. This move helped ease concerns about the risk of short-term supply disruptions, according to Reuters.

In addition, trade tensions increased when the US President announced a 30% tax on most imports from the European Union (EU) and Mexico from August 1, while warning that he would expand tariffs to other countries.

This has raised concerns about the risk of slowing economic growth, reducing fuel demand and putting pressure on oil prices. Meanwhile, Brazil said it would try to negotiate with the US to reverse the newly announced 50% tariff on goods from this country.

According to Russian media, the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) said that global oil demand will remain "very strong" in the third quarter. Meanwhile, on the supply side, Reuters market sources said that US crude oil reserves increased by 839,000 barrels last week.

Data from Trading Economics shows that at 9:00 a.m. on July 16, WTI oil was trading at $67.02 per barrel, down 2.1% from last week; similarly, Brent oil was also at $69.08 per barrel, down 1.8%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-mai-tang-hay-giam-20250716090742270.htm