Gasoline price forecast to increase, oil price to decrease in the operating period tomorrow, December 4

Photo caption — Buying and selling gasoline and oil at Petrolimex gasoline business points. Illustration photo: Tran Viet/VNA

VPI's Machine Learning-based gasoline price forecasting model shows that in the operating period tomorrow, December 5, retail gasoline prices may increase by 3% while retail oil prices may decrease by 0.1-2.9% compared to the previous operating 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 (ANN) model and supervised learning algorithm in VPI's machine learning 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.

In the world market, on the afternoon of December 2, Vietnam time, the price of North Sea Brent crude oil increased by 0.02% to 63.18 USD/barrel; the price of US light sweet crude oil (WTI) increased by 0.1% to 59.38 USD/barrel. Both types of oil increased by more than 1% in the previous session, in which WTI oil approached the highest level in two weeks due to many reasons.

Analysts at Saxo Bank said oil prices were holding on to gains as traders awaited US President Donald Trump's actions on Venezuela, as he declared that "the airspace over and around Venezuela" should be considered completely closed. This sparked fresh uncertainty in the oil market, as the South American country is a major producer.

In addition, Mr. John Kilduff, partner at Again Capital LLC, said that the market is currently very concerned about the possibility of losing crude oil supplies from Russia. Traders are watching very closely to see if the Russia-Ukraine deal will collapse.

In addition, OPEC and its allies (OPEC+) have agreed to keep the group's crude oil production unchanged until December 2026, a decision that will slow efforts to regain market share amid concerns about the existing oversupply situation.

Source: https://baotintuc.vn/kinh-te/du-bao-gia-xang-tang-gia-dau-giam-trong-ky-dieu-hanh-ngay-mai-412-20251203070454780.htm