Forecast of gasoline price increase, oil price decrease in the operating period tomorrow, May 29

Domestic gasoline prices at the operating session tomorrow, May 29, are forecast to be mixed, with gasoline prices increasing while oil prices decreasing.

Tomorrow (May 29, 2025) is the time to regulate retail gasoline prices according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trading.

Domestic gasoline prices at the adjustment session tomorrow, May 29, are forecast to be mixed, with gasoline prices increasing while oil prices decreasing. Photo: TT

According to Oilprice data, trading at 9:22 this morning - May 28 (Vietnam time), Brent oil price was at 64.33 USD/barrel, up 0.37% (up 0.24 USD/barrel compared to the previous session). Similarly, WTI oil price was at 61.23 USD/barrel, up 0.56% (equivalent to an increase of 0.34 USD/barrel).

Oil prices ended yesterday's trading session down about 1% as investors worried about oversupply after Iran and the US delegations made progress in negotiations and ahead of expectations that OPEC+ will decide to increase production at a meeting this week.

The latest updated data on gasoline prices in the Singapore market shows that gasoline 92 is trading at 75.6 USD/barrel, gasoline 95 is at 76.8 USD/barrel, down about 1 USD/barrel compared to a week ago.

Reuters reported that OPEC+ is not expected to change its policy at the meeting on May 28. However, at a separate meeting scheduled for May 31, the eight members of OPEC+ are likely to agree to increase oil production by 411,000 barrels per day in July.

Based on the developments of world oil prices, some oil and gas enterprises predict that domestic oil and gas prices in the adjustment period on May 29 are expected to increase by about 100 - 150 VND/liter for RON95 gasoline; E5 RON92 gasoline will increase by about 80 - 120 VND/liter; and diesel oil prices will decrease by about 250 - 350 VND/liter.

In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said that in the operating period on May 29, the retail price of E5 RON 92 could increase by VND 153 (0.8%) to VND 19,273/liter, while RON 95-III gasoline could increase by VND 88 (0.4%) to VND 19,618/liter.

VPI's model predicts that retail oil prices this period will tend to decrease by 1.3 - 1.8%, specifically diesel may decrease by 1.8% to 17,087 VND/liter, kerosene may decrease by 1.4% to 17,068 VND/liter, and fuel oil is forecast to decrease by 1.3% to 16,295 VND/kg.

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

Previously, in the operating period on May 22, 2025 of the Ministry of Industry and Trade - Ministry of Finance, gasoline prices were adjusted down, specifically, the price of E5 RON92 gasoline decreased by 58 VND/liter, not higher than 19,122 VND/liter. The price of RON95 gasoline decreased by 62 VND/liter, not higher than 19,532 VND/liter.

Oil prices, on the other hand, increased across the board. Specifically, diesel prices increased by VND177 per liter, not exceeding VND17,405 per liter. Kerosene prices increased by VND88 per liter, not exceeding VND17,314 per liter, and fuel oil prices increased by VND352 per kilogram, not exceeding VND16,512 per kilogram.

Also in this management period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

Since the beginning of 2025, domestic gasoline prices have undergone 21 adjustment sessions, including 11 decreases, 8 increases and 2 opposite sessions.

Duy Anh

Source: https://congthuong.vn/du-bao-gia-xang-tang-dau-giam-trong-ky-dieu-hanh-ngay-mai-295-389680.html