Gasoline prices are expected to decrease for the second consecutive time in the operating period tomorrow, December 12.

Domestic gasoline prices are expected to be adjusted down in the operating period tomorrow (December 12) according to world prices.

Tomorrow (December 12) is the time to regulate retail gasoline prices according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trading.

Domestic gasoline prices are expected to be adjusted down in the operating period tomorrow (December 12) according to world prices. Photo: HH

World oil prices last week recorded the second consecutive week of decline, despite the decision to extend production cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) until the end of the first quarter of 2025 and gradually increase production from April 2025 to September 2026.

At the beginning of today's trading session (December 11), world oil prices continued to increase slightly. According to data from Oilprice, at 8:12 a.m. on December 11 (Vietnam time), Brent oil price was at 72.22 USD/barrel, up 0.04%; WTI oil price was at 68.62 USD/barrel, up 0.04% compared to the previous session.

Based on the developments in world oil prices, some oil businesses believe that domestic oil prices at the adjustment period on December 12 may be adjusted down.

If the regulatory agency does not influence the Petroleum Price Stabilization Fund, domestic gasoline prices could fall by VND180-220 per liter. Similarly, diesel prices are likely to fall by about VND300 per liter. In case the regulatory agency draws from the Petroleum Price Stabilization Fund, gasoline prices could fall less or remain the same.

If the above forecast is correct, RON 95 gasoline price will have the second consecutive decrease.

In another development, the Vietnam Petroleum Institute (VPI)'s Machine Learning-based gasoline price forecasting model said that the retail price of E5 RON 92 gasoline could decrease by VND220 (1.1%) to VND19,640/liter, while RON 95-III gasoline could decrease by VND180 (0.9%) to VND20,380/liter.

VPI's model also forecasts that retail oil prices this period will also decrease by 1.6 - 3.3%; of which fuel oil may decrease sharply by 3.6% to 15,590 VND/kg, followed by kerosene which is forecast to decrease by 2.1% to 18,408 VND/liter, and diesel may decrease by 1.6% to 18,083 VND/liter.

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

In the most recent adjustment period on December 5, the prices of all types of gasoline and oil were jointly adjusted down by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 RON 92 gasoline increased by VND24/liter, to VND19,864/liter; RON 95 gasoline decreased by VND294/liter, to VND20,563/liter.

The price of 0.05S diesel oil decreased by 395 VND/liter, down to 18,382 VND/liter. Kerosene oil decreased by 325 VND/liter, down to 18,817 VND/liter. The price of 180CST 3.5S fuel oil remained unchanged at 16,125 VND/kg.

In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and fuel oil.

Source: https://congthuong.vn/gia-xang-dau-du-bao-giam-lan-thu-2-lien-tiep-trong-ky-dieu-hanh-ngay-mai-1212-363701.html