Gasoline prices will increase again tomorrow?

(Dan Tri) - Gasoline prices on July 10 are expected to rebound, increasing by about 100-250 VND/liter.

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 10). The leader of a major gasoline distribution enterprise in the South said that after the previous adjustment period, crude oil prices increased again.

On July 8, the price of imported gasoline in the Singapore market was at 79.99 USD/barrel for RON 95 gasoline, up nearly 1 USD/barrel compared to 6 days ago; RON 92 gasoline was at 78.3 USD/barrel, up more than 1 USD/barrel. It is likely that domestic gasoline prices will increase slightly in the operating period on July 10.

Gasoline prices are expected to increase by about VND100-250/liter. Diesel may increase by VND350-400/liter. In case the joint ministries use the Price Stabilization Fund, gasoline prices may increase less or remain the same.

The owner of a petroleum distribution company in the North also predicted that petroleum prices will increase again in tomorrow's operating period. On July 8, the petroleum discount at some depots was at 1,000-1,200 VND/liter.

If forecasted, domestic RON 95 gasoline prices will rebound after two consecutive declines. Currently, the price of this fuel is at a 4-year low, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 14 times and decreased 13 times. Diesel has increased 13 times, decreased 13 times and remained unchanged once.

In the most recent adjustment on July 3, E5 RON 92 gasoline decreased by VND1,090/liter to VND19,440/liter; RON 95 gasoline also decreased by VND1,210/liter, to VND19,900/liter. Diesel oil decreased by VND940/liter to VND18,400/liter. Kerosene decreased by VND930/liter to VND18,130/liter. Fuel oil decreased by VND1,150/kg to VND15,800/kg.

In the world market, in the trading session on July 8, oil prices were at their highest level in the past 2 weeks as investors closely monitored the developments of tariff tensions from the US and OPEC+'s plan to increase production higher than expected in August, according to Reuters.

Meanwhile, the energy market is also facing a lot of pressure. According to expert Janiv Shah of Rystad Energy, oil prices are under pressure as OPEC+ starts to increase production, but are still supported by distillate fuel shortages and attacks on cargo ships by the Houthi group in Yemen.

In addition, OPEC+ decided to increase production by 548,000 barrels per day in August, up from 411,000 barrels per day in the previous three months. HSBC experts said that the increase in exports at a time when oil demand is seasonal will put more pressure on the market. Meanwhile, Commerzbank forecasts that Brent crude oil prices could fall to $65 a barrel in the fall due to excess supply.

Data from Trading Economics shows that at 9:00 a.m. on July 9, WTI oil was trading at $68.18 per barrel, up 3.5% from last week; similarly, Brent oil was also at $70.02 per barrel, up 3.3%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-mai-tang-tro-lai-20250709002432742.htm