Domestic gasoline prices may decrease for the third consecutive time tomorrow

Domestic gasoline prices may decrease tomorrow

According to the schedule, tomorrow (October 31) is the time to regulate retail gasoline prices according to Decree 80/2023.

In the world market, oil prices last week recorded a strong increase. Overall, last week, Brent oil prices increased by 4% to 76.05 USD/barrel, while WTI oil prices increased by 3.7% to 71.78 USD/barrel.

But this week, oil prices fell in two consecutive trading sessions, a total decrease of more than 6%. Oil prices plunged as concerns about a broader conflict in the Middle East gradually subsided.

At the beginning of the trading session on October 30, world oil prices edged up slightly due to a decrease in US gasoline and oil inventories. According to data from Oilprice, at 9:36 a.m. on October 30 (Vietnam time), Brent oil price was at 71.44 USD/barrel, up 0.45%; WTI oil price was at 67.53 USD/barrel, up 0.48% compared to the previous session.

In the Singapore market, the average price of finished gasoline in the last period decreased slightly compared to the previous period.

Based on the developments in world oil prices, some oil businesses believe that domestic oil prices at the October 31 adjustment period may be adjusted downward.

If the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by VND330-480 per liter. Diesel prices could decrease by VND100-160 per liter.

In case the regulatory agency draws from the Petroleum Price Stabilization Fund, the gasoline price may decrease less or remain the same.

If the above forecast is correct, domestic gasoline prices will have their third consecutive decrease.

In the most recent adjustment period (October 24), the prices of all types of gasoline and oil were adjusted down by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline was adjusted down by 40 VND/liter, selling price is 19,690 VND/liter. The price of RON 95 gasoline decreased by 70 VND/liter, selling price is 20,890 VND/liter.

Meanwhile, diesel price was adjusted down by 270 VND/liter, selling price is 18,050 VND/liter. Kerosene price decreased by 50 VND/liter, price is 18,570 VND/liter.

TH (according to Vietnamnet)

Source: https://baohaiduong.vn/gia-xang-dau-trong-nuoc-ngay-mai-co-the-giam-lan-thu-3-lien-tiep-396856.html