Gasoline prices are expected to decrease in the operating period tomorrow, December 26, 2024

In the operating period tomorrow (December 26), domestic gasoline prices are forecast to decrease after increasing in the operating period last week.

Tomorrow (December 26) 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.

In the operating period tomorrow (December 26), domestic gasoline prices are forecast to decrease after increasing in the operating period last week. Photo: TT

Today (December 25), the US market stopped trading for Christmas. According to data from Oilprice, at 7:25 am on December 25 (Vietnam time), Brent oil price was listed at 73.58 USD/barrel. WTI oil price was at 70.1 USD/barrel.

Oil prices edged up on Thursday after news that China has agreed to issue 3 trillion yuan ($411 billion) in special treasury bonds next year, the largest ever issuance and three times the amount issued this year as Beijing ramps up fiscal stimulus to revive its flagging economy .

China's stimulus measures are likely to support WTI crude oil prices in the short term, market analysts said.

The market will also be watching the US economy, the world's largest oil consumer, with mixed data.

Based on the developments in world oil prices, some oil businesses believe that domestic oil prices at the adjustment period on December 26 may be adjusted down.

If the regulatory agency does not influence the Petroleum Price Stabilization Fund, domestic gasoline prices could fall by VND370-385 per liter. Similarly, diesel prices are likely to fall by about VND190 per liter. In case the regulatory agency draws from the Petroleum Price Stabilization Fund, gasoline prices could fall less.

In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said on December 26 that the retail price of E5 RON 92 gasoline could decrease by VND372 to VND19,868 per liter, while RON 95-III gasoline could decrease by VND383 to VND20,617 per liter.

VPI's model also forecasts that retail oil prices will tend to decrease slightly this period. Of which, kerosene may decrease by 1.2% to 18,725 VND/liter, diesel may decrease by 1% to 18,541 VND/liter, and fuel oil may decrease by 0.1% to 15,881 VND/kg. VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.

In the most recent adjustment period on December 19, the prices of all types of gasoline were adjusted up by the Ministry of Industry and Trade - Ministry of Finance, specifically the price of E5 RON92 gasoline increased by 383 VND/liter, not higher than 20,244 VND/liter. RON95 gasoline increased by 408 VND/liter, not higher than 21,004 VND/liter.

Diesel price increased by 478 VND/liter, not higher than 18,733 VND/liter. Kerosene increased by 402 VND/liter, not higher than 18,968 VND/liter and fuel oil increased by 329 VND/kg, not higher than 15,903 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-quay-dau-giam-trong-ky-dieu-hanh-ngay-mai-26122024-366126.html