How is gasoline price expected to be adjusted in the next operating session?

Gasoline prices are expected to decrease in the next adjustment period. Photo: Hai Nguyen

World oil prices fluctuated in opposite directions during today's trading session (September 14th, Vietnam time). WTI crude oil was at $68.65 per barrel, down $0.32 per barrel, or 0.46%. WTI crude oil closed the previous trading session at $68.97 per barrel and opened today's session at $69.31 per barrel.

Brent crude oil was trading at $72.18 per barrel, up $0.21 per barrel, or 0.29%. Brent closed the previous trading session at $71.97 per barrel and opened today's session at $72.20 per barrel.

Information from the Vietnam Commodity Exchange (MXV) said that global economic growth pressures, especially in China and the US, the two largest energy consuming countries in the world, are reflecting gray tones in the picture of crude oil consumption growth.

In recent weeks, dismal data, especially on the labor market, has raised concerns about the health of the economy and raised questions about whether a recession is on the way for the US.

In its recently released August jobs report, the U.S. Department of Labor stated that the country's non- agricultural sector added only 142,000 new jobs last month, significantly less than the 164,000 forecast by economists in a Dow Jones survey. The July figure was also sharply revised down to 89,000 from the previously estimated 114,000.

Regarding the domestic petroleum market, according to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation.

According to current market developments, it is forecasted that in the next price adjustment period (Thursday, September 19), gasoline prices may be adjusted down. In particular, gasoline prices are forecast to decrease by 150 - 200 VND/liter; diesel is forecast to decrease by 200 VND/liter. The above forecasted prices do not take into account the management agency's allocation or use of the Petroleum Price Stabilization Fund.

In the previous adjustment session (Thursday, September 12), the price of E5 RON 92 gasoline decreased by VND1,080/liter, to VND18,890/liter; RON 95 gasoline decreased by VND1,190/liter, to VND19,630/liter. Similarly, the price of diesel oil also decreased by VND930/liter, to VND17,160/liter; the price of kerosene decreased by VND930/liter, to VND17,790/liter. Fuel oil also decreased to VND14,460/kg.

Thus, domestic gasoline prices have seen their fourth consecutive day of decline after just one day of increase. Since the beginning of the year, gasoline prices have risen 17 times and fallen 20 times. Currently, the price of this commodity is at its lowest level in over three years and is equivalent to the price in May 2021.

Source: https://laodong.vn/kinh-doanh/gia-xang-du-bao-duoc-dieu-chinh-ra-sao-trong-phien-dieu-hanh-toi-1394256.ldo