Gasoline prices are forecast to decrease by 300-500 VND per liter this afternoon.

Gasoline prices in the adjustment session on the afternoon of February 22nd may decrease by 300-500 VND/liter, while diesel prices may decrease by 400-500 VND/liter/kg.

According to the leaders of several petroleum businesses, the average price of refined gasoline in the Singapore market tended to decrease compared to the previous week, but the adjustment was not significant.

Based on global price trends, Mr. Dang Hoai Phuong, Director of Phuong Nam retail gasoline company, predicted: "In this afternoon's price adjustment (February 22nd), the price of E5 RON 92 gasoline in Vietnam may decrease by 400-500 VND/liter, and RON 95 gasoline may decrease by 300-400 VND/liter. Similarly, diesel fuel is predicted to decrease by 350-450 VND/liter."

Similarly, Mr. Nguyen Xuan Thang, Director of Hai Au Phat Co., Ltd., also predicted that gasoline prices this afternoon could decrease by 300-500 VND/liter, and diesel prices would decrease similarly, by 400-500 VND/liter/kg.

"The above-mentioned forecast for gasoline and diesel prices does not take into account the amount that the regulatory agency will allocate to or use from the Price Stabilization Fund," Mr. Thang said.

According to Mr. Thang, the discount offered by distributors and wholesalers to dealers in the past few days has been more "manageable" compared to the Lunar New Year period, ranging from 1,150 to 1,500 VND/liter.

"This discount level ensures that retail businesses can maintain a slight profit margin and continue supplying gasoline to the market," Mr. Thang said.

If the forecast of a price reduction is accurate, domestic gasoline prices will see their second decrease since the beginning of the year. Meanwhile, if the Ministry of Industry and Trade and the Ministry of Finance utilize the price stabilization fund, gasoline prices may decrease less, or even not decrease at all.

Currently, the selling prices of various types of gasoline and diesel are being applied according to the prices set in the price adjustment session on the afternoon of February 15th. Specifically, the price of E5 RON92 gasoline increased by 711 VND/liter, not exceeding 22,831 VND/liter; RON95 gasoline increased by 675 VND, not exceeding 23,919 VND/liter.

Prices of all types of oil also increased simultaneously, with diesel increasing by 654 VND, not exceeding 21,361 VND/liter; kerosene increasing by 633 VND, not exceeding 21,221 VND/liter; and fuel oil increasing by 308 VND, not exceeding 15,906 VND/kg.

(VTC News)

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