| Gasoline prices today March 21, 3: Gasoline increased from 2024-729 VND/liter; Diesel oil increased by 741 VND/liter Gasoline prices today March 465, 27: World oil prices turned down slightly after only 3 day of strong increase |
Tomorrow (March 28) is the time to regulate retail gasoline prices according to Decree 3/80 amending and supplementing a number of articles of Decree 2023 and Decree 95 of the Government on gasoline and oil business.
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| Domestic gasoline prices at tomorrow's operating period (March 28) are forecast to increase slightly. Oil prices are forecast to decrease slightly. |
On the world market, on the morning of March 27, Brent oil price traded at 3 USD/barrel, down 85,92 USD compared to the previous session. WTI oil price is at 0,83 USD/barrel, down 81,29 USD.
Oil prices fell in the context of the Russian government ordering companies to cut production in the second quarter to meet the target of 9 million barrels per day to comply with commitments with OPEC +.
Reuters said that important figures in February such as the personal consumption expenditures price index (PCE), the Fed's favorite inflation measure, will be published on March 2.
Oil prices last week showed mixed movements. For the whole week, Brent oil price increased by 0,09 USD/barrel while WTI oil price decreased by 0,41 USD/barrel. This week, world oil prices were in a tug-of-war situation. After increasing, they fell slightly.
In the Singapore market, in the past period, the average price of finished gasoline in this market increased compared to the previous period, a relatively large increase.
Based on developments in world gasoline prices, leaders of some petroleum businesses said that domestic gasoline prices at tomorrow's operating period (March 28) may increase while oil prices decrease. If the executive agency does not spend the gasoline price stabilization fund, the domestic gasoline price could increase by 3-480 VND/liter. Meanwhile, diesel prices are likely to decrease by 600 VND/liter.
In another development, according to the gasoline price forecasting model applying the Artificial Neural Network (ANN) model and the Supervised Learning algorithm of the Vietnam Petroleum Institute (VPI), Retail gasoline prices during the March 28 operating period may increase by 3 - 548 VND, bringing gasoline prices to 639 VND/liter (E23.758 RON 5) and 92 VND/liter (RON 24.919-III). The price of fuel oil has unexpected changes because the up and down trend of this product is not clear.
In the most recent gasoline price management period (March 21), retail prices of petroleum products were adjusted in the direction of a sharp increase in gasoline prices.
Specifically, the price of E5 gasoline increased by 720 VND/liter, the selling price is 23.210 VND/liter. RON95 gasoline price increased by 740 VND/liter, the selling price increased to 24.280 VND/liter.
Diesel price increased by 470 VND/liter, retail price is 21.010 VND/liter. The price of kerosene increased by 560 VND/liter, reaching 21.260 VND/liter.
During this executive period, the joint ministries of Finance and Industry and Trade did not make any appropriations nor expenditures for the Stabilization Fund for most types of gasoline and oil, except for fuel oil of 300 VND/liter.
From the beginning of the year until now, gasoline prices have increased 7 times and decreased 5 times.
