Gasoline prices are expected to be adjusted down this afternoon (illustrative photo)
Before the world oil price developments last week, representatives of some petroleum retail businesses predicted that gasoline prices could decrease by 130 - 200 VND/liter, while oil prices could increase by up to 400 VND/liter.
Meanwhile, the gasoline price forecast model of the Vietnam Petroleum Institute (VPI) shows that in the operating period on July 24, retail gasoline prices may decrease slightly by 0.8%, while oil prices may increase by 0.8 - 2% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the price stabilization fund.
Accordingly, VPI forecasts that the retail price of E5 RON92 gasoline may decrease by VND160 to VND19,320/liter, while RON95 gasoline may decrease by VND162 to VND19,758/liter.
Meanwhile, VPI forecasts that retail oil prices will increase slightly from 0.8 to 2% this period. Specifically, diesel may increase by 374 VND (2%) to 19,164 VND/liter, kerosene may increase by 1.1% to 18,624 VND/liter, and fuel oil is forecast to increase by 0.8% to 15,343 VND/kg.
VPI believes that the joint Ministry of Finance and Industry and Trade will continue not to set aside or use the gasoline price stabilization fund this time.
If forecasted, domestic gasoline prices will be adjusted down for the second consecutive time this afternoon.
Previously, in the operating period on July 17, the price of E5 RON92 gasoline decreased by 178 VND/liter, not higher than 19,481 VND/liter. The price of RON95 gasoline decreased by 165 VND/liter, not higher than 19,925 VND/liter.
Oil prices fluctuated. Specifically, diesel prices decreased by VND38/liter, to VND18,799/liter. Fuel oil prices decreased by VND85/kg, not higher than VND15,478/kg. Kerosene prices alone increased by VND58/liter, not higher than VND18,429/liter.
Since the beginning of 2025, domestic gasoline prices have undergone 28 adjustment sessions, including 11 decreases, 12 increases and 5 opposite sessions.
World oil prices continue to fall
On the world market, at 5:30 a.m. on July 24 (Vietnam time), Brent oil price was at 68.19 USD/barrel, down 0.42 USD/barrel, WTI oil price was at 64.91 USD/barrel, down 0.41 USD/barrel.
Both oil benchmarks continued to fall after the European Union (EU) said it was considering countermeasures against US tariffs.
US President Donald Trump said on Tuesday that the United States and Japan have reached a trade deal that includes a 15% tariff on imports from Japan.
However, oil market analyst Vandana Hari, founder of Vanda Insights, said: “The decline in prices in the last three sessions may have slowed down, but I do not expect the bullish momentum to come from the news of the US-Japan deal, as the obstacles and delays in negotiations with the EU and China are still a psychological drag on the market.”
The European Commission is expected to present to member states a proposal to impose retaliatory tariffs on 93 billion euros ($109 billion) of US goods, although the bloc’s main goal remains to find a negotiated solution to avoid Washington’s 30% tariffs.
Meanwhile, investors are awaiting US crude oil inventory data from the Energy Information Administration (EIA) due later on Wednesday.
One piece of news that could support oil prices is that the US is considering imposing sanctions on Russian oil to end the conflict in Ukraine.
VTC News
Source: https://baohaiphongplus.vn/chieu-nay-gia-xang-du-bao-giam-gia-dau-co-the-tang-417112.html
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