Tomorrow (April 25) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.
Domestic gasoline prices are being affected by world gasoline prices and the Singapore market.
In the world market, world oil prices fell sharply last week when both benchmark oil types, Brent and WTI, fell by 3%.
This week, after falling at the beginning of the week, world oil prices turned slightly up.
According to data from Oilprice, at 7:04 a.m. on April 24 (Vietnam time), Brent oil was trading at $88.42 per barrel, up $1.42, or 1.63%, from the previous session. WTI oil was at $83.44 per barrel, up $0.08, or 0.1%, from the previous session.
In the Singapore market, in the recent period, the average price of finished gasoline in this market decreased compared to the previous period.
Domestic gasoline prices may decrease tomorrow. Photo: Nguyen Hue
Based on the developments in world oil prices, leaders of some oil companies said that domestic oil prices at the adjustment session tomorrow (April 25) may decrease following world prices.
Oil and gas companies predict that if the regulatory agency does not affect the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices could decrease by VND270-300 per liter. Diesel prices could decrease by VND750 per liter.
If the above forecast is correct, the price of RON 95 gasoline will lose the 25,000 VND/liter mark.
In case the Ministry of Finance and Industry and Trade deducts from the BOG Fund, gasoline prices may decrease less, or even not decrease at all.
Since the beginning of the year, gasoline prices have increased 9 times, decreased 5 times, and changed in opposite directions twice.
In the most recent gasoline price adjustment period (April 17), retail prices of gasoline products were adjusted in the direction of increasing gasoline prices and decreasing oil prices (except for fuel oil).
Specifically, the price of E5 gasoline increased by 380 VND/liter, the selling price is 24,220 VND/liter. The price of RON 95 gasoline increased by 410 VND/liter, the selling price is 25,230 VND/liter.
Meanwhile, diesel price decreased by 170 VND/liter, down to 21,440 VND/liter. Kerosene price decreased by 180 VND/liter, down to 21,410 VND/liter.
Similar to previous periods, in this management period, the joint Ministry of Finance - Industry and Trade did not set aside nor spend the Price Stabilization Fund for most types of gasoline.
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