Gasoline prices forecast to increase slightly by 0.4-0.8% this week

VPI forecasts gasoline prices to increase slightly by 0.4 - 0.8% in the operating period on May 29.

Gasoline prices are expected to increase slightly in the upcoming afternoon adjustment on May 29. Photo: Trieu Hoa

According to the Machine Learning model for forecasting gasoline and oil prices of the Vietnam Petroleum Institute (VPI), in the operating period on May 29, retail gasoline prices may increase slightly by 0.4 - 0.8%, while oil prices may decrease by 1.3 - 1.8% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the Gasoline and Oil Price Stabilization Fund.

Mr. Doan Tien Quyet, a data analyst at VPI, said that the retail price of E5 RON 92 gasoline is forecast to increase by VND153 (0.8%) to VND19,273/liter, while RON 95-III gasoline may increase by VND88 (0.4%) to VND19,618/liter.

VPI's model predicts that diesel prices may decrease by 1.8% to VND17,087/liter, kerosene may decrease by 1.4% to VND17,068/liter, and fuel oil is forecast to decrease by 1.3% to VND16,295/kg.

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

In the world market, oil prices were almost flat in the trading session on May 27. At 9:20 GMT, Brent crude futures rose 26 cents (0.4%) to $65/barrel, while WTI crude rose 25 cents (0.4%) to $61.78/barrel.

Easing trade tensions are supporting oil prices, but gains remain limited until there is a clear decision from OPEC+ at its meeting later this week.

OPEC+ is expected to finalize its July 2025 production plan, which could include increasing production by 411,000 barrels per day.

Another factor supporting oil prices was the US extending the deadline for trade negotiations with the European Union until July 9, 2025, helping to ease concerns about new tariffs that could negatively impact fuel demand.

Source: https://hanoimoi.vn/du-bao-gia-xang-tang-nhe-0-4-0-8-trong-tuan-nay-703695.html