Forecast gasoline price tomorrow to be below 20,000 VND per liter?

Gasoline prices may be adjusted down tomorrow

World oil prices plunged last week, with Brent oil down about 4% and WTI oil down 5%.

This week, in the first trading session of the week (November 18), world oil prices turned around and increased by more than 3%, due to concerns about the escalating Russia-Ukraine conflict and supply shortages.

In the trading session on November 19, oil prices increased slightly as investors were cautious about signs of escalating tensions between Russia and Ukraine.

At the beginning of today's trading session, world oil prices edged up slightly. According to data from Oilprice, at 8:15 a.m. on November 20 (Vietnam time), Brent oil price was at 73.37 USD/barrel, up 0.08%; WTI oil price was at 69.53 USD/barrel, up 0.2% compared to the previous session.

In the domestic market, tomorrow (November 21) is the time to regulate retail gasoline prices according to Decree 80/2023.

Based on the developments in world oil prices, some oil companies believe that domestic gasoline prices at the November 21 adjustment period may be adjusted down.

If the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could fall by VND200-250 per liter. Similarly, diesel prices are likely to fall by about VND290 per liter.

In case the regulatory agency draws from the Petroleum Price Stabilization Fund, the gasoline price may decrease less or remain the same.

If the above forecast is correct, domestic gasoline prices will have their second consecutive downward adjustment session.

In the most recent adjustment period (November 14), the prices of all types of gasoline and oil were adjusted down by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by VND290/liter, selling price is VND19,450/liter. The price of RON 95 gasoline also decreased by VND250/liter, selling price is VND20,600/liter.

Similarly, diesel price was adjusted down by 340 VND/liter, selling price is 18,570 VND/liter. Kerosene price decreased by 310 VND/liter, price is 18,980 VND/liter.

TH (according to Vietnamnet)

Source: https://baohaiduong.vn/du-bao-gia-xang-ngay-mai-ve-duoi-20-000-dong-moi-lit-398483.html