Gasoline prices continue to fall tomorrow?

Domestic gasoline prices at tomorrow's adjustment session (November 21) are forecast to continue to decrease slightly following the world price trend. If as forecasted, this will be the second consecutive time this fuel item has decreased.

Gasoline prices The morning trading session of November 20 continued to show a slight upward trend. The trading update at 7:00 a.m. Vietnam time showed that WTI crude oil for immediate delivery in the US market was at 69.5 USD/barrel, up 0.32 USD/barrel, equivalent to an increase of more than 0.46% on the day. Brent oil price was trading around 73.3 USD/barrel, up more than 0.05 USD/barrel, equivalent to more than 0.08% on the day.

In the Singapore market, the latest updated data as of November 19 shows that gasoline 92 is trading at 82.07 USD/barrel, gasoline 95 is at 88.2 USD/barrel, up more than 2 USD/barrel compared to a week ago.

According to petroleum wholesalers, in the operating period on November 21, petroleum prices continued to decrease. Specifically, the retail price of E5 RON92 gasoline may decrease by 255 VND, the price of RON95 gasoline may decrease by 201 VND. Meanwhile, the price of diesel, kerosene, and fuel oil may decrease by about 250 VND/liter.

Gasoline prices are expected to fall on November 21.

In case of agency Ministry of Finance - Industry and Trade Using the Price Stabilization Fund, the volatility may change.

According to statistics, since the beginning of the year, gasoline prices have increased 22 times and decreased 23 times; oil prices have increased 20 times and decreased 25 times.

At the adjustment period on November 14, the Ministry of Industry and Trade - The Ministry of Finance decided not to allocate and establish the Petroleum Price Stabilization Fund.

Recently, the Ministry of Finance has proposed to continue applying the environmental protection tax rate on gasoline at VND2,000/liter; jet fuel, diesel oil, fuel oil, lubricants at VND1,000/liter; grease at VND1,000/kg... in 2025.

From 2026, environmental protection tax is expected to return to the ceiling level, according to regulations: gasoline (except ethanol) is 4,000 VND/liter; jet fuel is 3,000 VND/liter; diesel, fuel oil, lubricants are 2,000 VND/liter; kerosene is 1,000 VND/liter; grease is 2,000 VND/kg.

With the consumption of gasoline, oil, and lubricants in 2025 being the same as this year, the Ministry of Finance estimates that the state budget will reduce revenue by about VND 44,224 billion (including more than VND 40,204 billion in environmental protection tax reduction and more than VND 4,020 billion in value added tax).

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