RON95-III gasoline is forecast to rebound, above 20,000 VND/liter

The retail price of E5 RON 92 gasoline may increase by VND172 (0.9%) to VND19,302/liter, while RON 95-III gasoline may increase by VND296 (1.5%) to VND20,016/liter.

Gasoline prices are expected to rise again this week. Photo: Quang Nhien

According to the Machine Learning-based gasoline and oil price forecasting model of the Vietnam Petroleum Institute (VPI), in the operating period on October 16, retail gasoline prices may increase by 0.9-1.5% compared to the previous operating period, 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.

According to Mr. Doan Tien Quyet, data analyst of VPI, the model forecasts that the retail price of E5 RON 92 gasoline may increase by 172 VND (0.9%) to 19,302 VND/liter, while RON 95-III gasoline may increase by 296 VND (1.5%) to 20,016 VND/liter.

VPI's model forecasts that in this period, diesel prices may decrease by 0.6% to VND18,488/liter, fuel oil may decrease by 0.9% to VND14,667/kg, while kerosene prices may increase by only 0.1% to VND18,441/kg.

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

In the previous adjustment session (October 9), the prices of gasoline and oil products decreased simultaneously. Of which, E5 RON 92 gasoline was priced at VND19,138/liter (down VND486/liter). RON 95-III gasoline was priced at VND19,729/liter (down VND480/liter).

In the world market, after a slight recovery on October 14, oil prices turned sharply down. Specifically, Brent oil fell by 0.93 USD (equivalent to 1.5%) to 62.39 USD/barrel and WTI oil fell by 0.79 USD (equivalent to 1.3%) to 58.7 USD/barrel. This is the lowest price in the past 5 months due to concerns about future oversupply and geopolitical tensions.

Source: https://hanoimoi.vn/du-bao-xang-ron95-iii-bat-tang-tro-lai-tren-20-000-dong-lit-719736.html