Gasoline prices are forecast to increase and oil prices to decrease slightly tomorrow.

The Vietnam Petroleum Institute (VPI) forecasts that retail gasoline prices will increase by 3%, bringing the price of E5 RON 92 gasoline to VND19,858/liter and RON 95-III gasoline to VND20,602/liter.

Gasoline prices are forecast to increase slightly on March 4. Photo: Thanh Tu

VPI's gasoline and oil price forecasting model shows that, in the December 5 adjustment period, retail gasoline prices may increase by 3% while retail oil prices may decrease by 0.1-2.9% compared to the previous adjustment period, if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the Gasoline Price Stabilization Fund.

According to Mr. Doan Tien Quyet, data analysis expert of VPI, the gasoline and oil price forecasting model applying artificial neural network model and supervised learning algorithm, forecasts that the retail price of E5 RON 92 gasoline may increase by 567 VND (3%) to 19,858 VND/liter, while RON 95-III gasoline is forecast to increase by 602 VND (3%) to 20,602 VND/liter.

VPI's model predicts that in this period, kerosene prices may decrease by 2.9% to VND18,905/liter, diesel may decrease by 2.3% to VND18,368/liter, and fuel oil prices may decrease by 0.1% to VND13,466/kg. VPI predicts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.

Previously, at the gasoline and oil price adjustment session at the end of November 27, the prices of two gasoline products E5RON92 and RON95-III decreased by over 500 VND/liter; diesel oil price decreased by 1,026 VND/liter.

Source: https://hanoimoi.vn/du-bao-gia-xang-tang-gia-dau-giam-nhe-trong-ngay-mai-725489.html