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Gasoline prices are expected to increase slightly in the operating period tomorrow, May 2, 2024

Báo Công thươngBáo Công thương01/05/2024


Gasoline and oil prices today, April 25, 2024: Gasoline and oil prices both decreased Gasoline and oil prices today, May 1, 2024: World oil prices continued to decrease by 1%

Tomorrow (May 2) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83 of the Government on gasoline trading.

Giá xăng dầu hôm nay áp dụng theo phiên điều chỉnh từ 15h ngày 25/1
Domestic gasoline prices at tomorrow's adjustment period (May 2) are forecast to increase slightly, oil prices may remain stable.

Domestic gasoline prices are being affected by world gasoline prices and the Singapore market.

In the world market, world oil prices last week recorded a week of increase after 2 consecutive weeks of decrease. However, this week, world oil prices have continuously decreased since the beginning of the week.

At 6:00 a.m. this morning (May 1), Brent oil price was trading at 87.86 USD/barrel, down 0.54 USD compared to the previous session. Meanwhile, WTI oil price was at 81.93 USD/barrel, down 0.7 USD compared to the previous session.

In the Singapore market, in the recent period, the average price of finished gasoline in this market increased compared to the previous period. But the increase was not too large.

Oil prices plunged amid ceasefire talks in the Gaza Strip taking place in Cairo, Egypt.

In addition, data from the American Petroleum Institute (API) also showed that US crude oil inventories increased by 4.91 million barrels last week, contrary to analysts' predictions of a decrease of about 1.1 million barrels.

Based on the developments in world oil prices, leaders of some oil trading enterprises believe that domestic gasoline prices may increase in the adjustment period tomorrow (May 2).

Specifically, businesses forecast that if the regulatory agency does not spend the Petroleum Price Stabilization Fund, the price of E5 RON 92 gasoline may increase by 60-80 VND/liter, and the price of RON 95 gasoline may increase by 70-90 VND/liter. Diesel prices may remain stable. If the above forecast is correct, the price of RON 95 gasoline may regain the mark of 25,000 VND/liter.

In case the Ministry of Finance and Industry and Trade spends the Price Stabilization Fund, gasoline prices are likely to remain the same.

Previously, at the April 25 adjustment session, the Ministry of Industry and Trade - Ministry of Finance decided to reduce the retail price of RON 95-III gasoline by 322 VND/liter, down to 24,915 VND/liter. The retail price of E5 RON 92 gasoline decreased by 307 VND/liter, down to 23,919 VND/liter.

Meanwhile, oil prices fluctuated in opposite directions. Diesel prices decreased by VND730/liter, down to VND20,716/liter. Kerosene retail prices decreased by VND730/liter, down to VND20,686/liter. In contrast, fuel oil increased by VND202/kg, up to VND17,408/kg.

Also in this management 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 mazut oil.

Since the beginning of the year, gasoline prices have increased 9 times, decreased 6 times, and changed in opposite directions twice.



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