Domestic gasoline prices today may reverse and decrease

Based on the world price movement, some opinions say that domestic gasoline prices may decrease by 100-350 VND/liter, diesel prices may decrease by about 350-400 VND/liter. If the above forecast is correct, domestic gasoline prices will go down this afternoon after being adjusted up last week.

Domestic gasoline prices may decrease slightly this afternoon. (Illustration photo: Minh Duc).

Meanwhile, the Vietnam Petroleum Institute (VPI)'s gasoline price forecasting model shows that, in the operating period on December 5, gasoline prices could fluctuate from 0.1 - 1.9% if the Ministry of Finance and Industry and Trade do not set aside or use the gasoline price stabilization fund.

VPI forecasts that the retail price of E5 RON92 gasoline may decrease to 19,780 VND/liter, and RON95 gasoline may decrease to 20,480 VND/liter. Meanwhile, oil prices may fluctuate, with fuel oil forecast to increase slightly by 0.1% to 16,137 VND/kg, diesel prices may decrease by 1.9% to 18,405 VND/liter, and kerosene prices may decrease by about 1.8% to 18,802 VND/liter.

VPI also believes that this period the Ministry of Finance and Industry and Trade will continue not to set aside or use the petrol price stabilization fund.

In the operating period on November 28, the price of E5 RON92 gasoline increased by 497 VND/liter, not higher than 19,840 VND/liter. RON95 gasoline increased by 329 VND/liter, not higher than 20,857 VND/liter.

Diesel price increased by 268 VND/liter, not higher than 18,777 VND/liter. Kerosene increased by 221 VND/liter, not higher than 19,142 VND/liter and fuel oil price increased by 111 VND/kg, to 16,125 VND/kg.

On the world market, at 6:00 a.m. this morning, December 5, Brent oil price decreased by 1.31 USD, equivalent to 1.78%, to 72.31 USD/barrel. WTI oil price decreased by 1.4 USD, equivalent to 2%, to 68.54 USD/barrel.

Analysts said the market was in a wait-and-see mode as investors focused on the OPEC+ meeting today. Industry sources said OPEC+ is likely to extend the production cuts until the end of the first quarter of 2025.

While there is expected to be a delay in unwinding the production cuts, the comments at the OPEC+ meeting will have the biggest impact, according to Matt Smith, Kpler's top oil analyst for the Americas.

OPEC+ maintained supply cuts throughout the year, citing weak demand from China. The group had planned to gradually increase production in the final months of the year, but weak demand amid rising supply from non-OPEC+ sources forced the plan to be postponed.

PHAM DUY

Source: https://vtcnews.vn/gia-xang-dau-trong-nuoc-hom-nay-co-the-quay-dau-giam-ar911489.html