Domestic gasoline prices at tomorrow’s operating period (April 4) are forecast to increase for the third consecutive time. Gasoline prices may increase from 190-300 VND/liter. Accordingly, the price of RON95 gasoline is likely to reach 25,000 VND/liter.
Tomorrow (April 4) 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 affected by world gasoline prices and the Singapore market.
On the world market, oil prices increased sharply last week with Brent oil increasing by 2.4% and WTI oil price increasing by 3.2%.
This week, world oil prices still tend to increase. Oil prices have reached their highest level in the past 5 months. Brent oil price is approaching 89 USD/barrel while WTI oil price has exceeded 85 USD/barrel.
According to data from Oilprice, at 6:24 a.m. on April 3 (Vietnam time), Brent oil price was trading at 88.92 USD/barrel, an increase of 1.5 USD, equivalent to 1.72% compared to the previous session. before. WTI oil price was at 85.56 USD/barrel, an increase of 0.41 USD, equivalent to 0.48% compared to the previous session.
In the Singapore market, in the past period, the average price of finished gasoline in this market increased compared to the previous period. However, the increase is not too large.
Domestic gasoline prices may increase tomorrow. Photo: Nguyen Hue
Based on developments in world petroleum prices, leaders of some petroleum businesses said that domestic gasoline prices at tomorrow’s operating period (April 4) may increase according to world prices.
Petroleum businesses said that if the executive agency does not spend the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices could increase from 190-300 VND/liter. Diesel prices are likely to increase by 310 VND/liter.
If the above forecast is correct, domestic gasoline prices will increase for the third consecutive session. Accordingly, the price of RON95 gasoline is likely to reach 25,000 VND/liter.
In case the Ministry of Industry, Trade and Finance spends the BOG Fund, gas prices may increase less, or even remain the same.
From the beginning of the year until now, gasoline prices have increased 8 times and decreased 5 times.
In the most recent gasoline price management period (March 28), retail prices of petroleum products were adjusted in the direction of increasing gasoline prices and decreasing oil prices.
Specifically, the price of E5 gasoline increased by 410 VND/liter, the selling price is 23,620 VND/liter. RON95 gasoline price increased by 530 VND/liter, the selling price increased to 24,810 VND/liter.
On the contrary, the diesel price was adjusted down by 320 VND/liter, bringing the selling price to 20,690 VND/liter. Kerosene price decreased by 390 VND/liter, to 20,870 VND/liter.
During this executive period, the joint ministries of Finance and Industry and Trade did not make any appropriations nor expenditures for the Stabilization Fund for most types of gasoline and oil, except for fuel oil of 300 VND/liter.