Gasoline and oil prices are forecast to increase sharply on October 30.

The Vietnam Petroleum Institute (VPI) forecasts that the retail price of E5 RON 92 gasoline may increase by VND1,010 (5.3%) to VND20,060/liter, while RON 95-III gasoline may increase by VND1,025 (5.2%) to VND20,745/liter.

Gasoline prices are forecast to increase sharply on October 30. Photo: TH

The Vietnam Petroleum Institute's (VPI) Machine Learning-based gasoline price forecasting model shows that, in tomorrow's adjustment period (October 30), retail gasoline prices may reverse and increase by more than 5% while oil prices may increase sharply by 6.1 - 7.8% compared to the previous adjustment period, if the Ministry of Finance and Industry and Trade do not set aside or use the Petroleum Price Stabilization Fund.

According to Mr. Doan Tien Quyet, data analysis expert of VPI, the gasoline price forecasting model applying artificial neural network model and supervised learning algorithm in machine learning of VPI forecasts that the retail price of E5 RON 92 gasoline may increase by 1,010 VND (5.3%) to 20,060 VND/liter, while RON 95-III gasoline may increase by 1,025 VND (5.2%) to 20,745 VND/liter.

VPI's model forecasts that in this period, kerosene prices may increase sharply by VND1,413 (7.8%) to VND19,523/kg, diesel prices may increase by VND1,269 (7.1%) to VND19,149/liter, and mazut prices may increase by 6.1% to VND14,951/kg.

VPI also forecasts that this period the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund.

Source: https://hanoimoi.vn/du-bao-gia-xang-dau-dao-chieu-tang-manh-trong-ngay-30-10-721423.html