Will there be any surprises in gasoline prices tomorrow?

Gasoline prices at tomorrow's adjustment session (December 5) are forecast to reverse downwards after only one session of increase. Meanwhile, oil prices fluctuated in opposite directions.

Update data Gasoline price Import prices on the Singapore market as of December 3 showed that RON 95 gasoline was trading at 83.69 USD/barrel, down more than 1 USD/barrel compared to 7 days ago; RON 92 gasoline was at 80.83 USD/barrel, down more than 0.6 USD/barrel.

In the world market, crude oil prices have continued to increase sharply in recent days. This morning, WTI oil prices were trading at 69.9 USD/barrel, up 1.82 USD/barrel; Brent oil prices were trading at 73.58 USD/barrel, up 1.75 USD/barrel).

Oil prices have rebounded as the situation in the Middle East has heated up again. In addition, OPEC+ is expected to extend the supply cut agreement until the end of the first quarter of 2025 at its meeting on December 5.

According to the petroleum wholesale enterprises, before gasoline price fluctuations world oil, most likely domestic gasoline prices will fluctuate in opposite directions. Specifically, the price of RON 95 gasoline is forecast to decrease by 280-320 VND/liter, E5 RON 92 gasoline will increase by 0-50 VND/liter. Meanwhile, the price of diesel oil will decrease by 360-400 VND/liter, kerosene will decrease by 300-320 VND/liter, and fuel oil may increase slightly.

Gasoline prices are expected to fluctuate in opposite directions tomorrow (December 5).

If forecasts are correct, domestic gasoline prices will reverse after just one increase. Currently, this fuel price is still at its lowest level in more than 3 years, equivalent to June 2021. Since the beginning of the year, gasoline has increased 22 times and decreased 25 times. Diesel has increased 21 times and decreased 25 times.

The room for the petroleum price stabilization fund of some key enterprises still recorded a large positive level due to many operating periods without using the fund. The fund balance as of the end of the second quarter was VND 6,061 billion, down VND 18 billion compared to the previous quarter and the fifth consecutive quarter of decline. Compared to the end of 2023, the fund balance decreased by nearly VND 600 billion.

In the most recent adjustment period on November 28, the Ministry of Industry and Trade - Ministry of Finance decided to increase the price of E5 RON 92 gasoline by VND500/liter to VND19,840/liter; RON 95 gasoline by VND330/liter to VND20,850/liter. Similarly, diesel increased by VND270/liter to VND18,770/liter; kerosene increased by VND220/liter to VND19,140/liter; and fuel oil increased by VND110/kg to VND16,120/kg.

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