How will gasoline prices evolve after a drop of more than 1,000 VND/liter?

According to the plan, the Ministry of Industry and Trade - Ministry of Finance will announce the new retail price of gasoline on December 4. The price movement of imported gasoline from Singapore shows that domestic gasoline prices will likely fluctuate in opposite directions.

The leader of a key enterprise in the South said that after the previous management period, the world crude oil price fluctuated in opposite directions, recently showing an upward trend. On December 2, the import price of RON 95 gasoline in Singapore was at 82.55 USD/barrel, RON 92 gasoline was at 80.70 USD/barrel, an increase of nearly 3 USD/barrel compared to 7 days ago.

With this development, it is forecasted that domestic gasoline prices may increase by about 500-600 VND/liter. Meanwhile, diesel prices may decrease by about 300-400 VND/liter.

The owner of a petroleum distribution company in the North also predicted that petroleum prices will fluctuate in opposite directions in the operating period tomorrow. On December 2, gasoline discounts at some warehouses decreased, while diesel discounts remained stable or increased slightly.

If forecasts are correct, domestic gasoline prices will rebound after two sessions of decline. Since the beginning of the year, RON 95 gasoline has increased 26 times, decreased 23 times. Diesel has increased 24 times, decreased 23 times and remained unchanged once.

In the most recent adjustment on November 27, the price of E5 RON 92 gasoline decreased by VND520/liter to VND19,280/liter; RON 95 gasoline decreased by VND540/liter to VND20,000/liter. Diesel oil decreased sharply by VND1,020/liter to VND18,800/liter, kerosene decreased by VND810/liter to VND19,470/liter; mazut oil decreased by VND250/kg to VND13,480/kg.

On the international market, on December 2, world oil prices fell as the market assessed the prospects of Russia-Ukraine negotiations to be weakening and the risk of oversupply to be increasing, according to Reuters.

Signs of a global oversupply continue to weigh on oil prices, but that has been offset by faster-than-expected disruptions to Russian oil infrastructure over the weekend, along with escalating tensions between the US and Venezuela, said Rystad Energy analyst Janiv Shah.

Last weekend, US President Donald Trump declared that "the airspace over and around Venezuela" should be considered completely closed, sparking new uncertainty in the oil market, as the South American country is a major producer.

Meanwhile, oil prices continue to be under pressure as the market worries about the risk of oversupply in the coming months. At the meeting last weekend, OPEC+ decided to keep oil production unchanged in the first quarter of 2026, as the alliance is cautious about the risk of oversupply and temporarily slows down efforts to regain market share.

According to Trading Economics data, at 1 a.m. on December 3, WTI oil price was trading at $58.88/barrel, up 0.63% compared to last week. Brent oil price also increased 0.56%, to $62.74/barrel.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-dau-dien-bien-ra-sao-sau-phien-giam-hon-1000-donglit-20251203011503228.htm