Gasoline prices expected to fall for third consecutive time

Domestic gasoline prices are forecast to decrease for the third consecutive time tomorrow (March 13th), following world prices.

Tomorrow (March 13, 2025) marks the deadline for adjusting retail gasoline and diesel prices according to Decree 80/2023/ND-CP, which amends and supplements several articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline and diesel business.

Domestic gasoline prices are forecast to decrease for the third consecutive day tomorrow (March 13th), following world prices.

Photo: Thanh Tuan

On the world market, at 6:00 AM on March 12th, WTI crude oil was priced at $66.59 per barrel, up $0.37 per barrel, while US Brent crude oil was priced at $69.56 per barrel, up $0.28 per barrel.

Oil prices rose by less than 1% amid a weakening US dollar, investor concerns about a potential US economic recession, and the impact of tariffs on global economic growth.

According to Reuters, the US dollar index fell to its lowest level in four months, making oil cheaper for overseas buyers.

Oil prices narrowed their gains after U.S. President Donald Trump on March 11 instructed the Commerce Secretary to impose an additional 25% tariff on all steel and aluminum imports from Canada, bringing the total tariff on these products to 50%.

Phil Flynn, a senior analyst at Price Futures Group, commented that these developments are increasing the volatility of oil prices.

Based on the developments in global oil prices, some petroleum companies predict that domestic gasoline prices in the price adjustment period on March 13th will continue to be reduced, following the trend of global oil prices.

Specifically, if the regulatory agency does not intervene in the Fuel Price Stabilization Fund, domestic gasoline prices could decrease by approximately 680-780 VND/liter. Similarly, diesel prices are likely to be adjusted down by about 330-450 VND/liter.

If the regulatory agency draws from the Price Stabilization Fund, the reduction in gasoline prices may be smaller.

In other news, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) indicates that, in the price adjustment period on March 13th, the retail price of E5 RON 92 gasoline is projected to continue to decrease by 499 VND (2.5%) to 19,461 VND/liter, while RON 95-III gasoline may decrease by 551 VND (2.7%) to 19,849 VND/liter.

VPI's model forecasts that retail oil prices this period will also tend to decrease, with fuel oil potentially falling sharply by 4.1% to 16,447 VND/kg, diesel oil potentially falling by 1.8% to 18,000 VND/liter, while kerosene is forecast to decrease insignificantly by 0.3% to 18,514 VND/liter.

VPI forecasts that the Ministry of Industry and Trade - Ministry of Finance will continue to neither allocate funds nor utilize the Fuel Price Stabilization Fund this period.

Previously, on March 6th, the Ministry of Industry and Trade - Ministry of Finance adjusted gasoline prices downwards. Specifically, the price of RON 95 gasoline decreased by 710 VND/liter, with the selling price being 20,400 VND/liter.

Similarly, the price of E5 gasoline was also adjusted down by 690 VND/liter, bringing the selling price down to 19,960 VND/liter.

Meanwhile, the price of diesel fuel was adjusted down by 620 VND/liter, bringing the selling price to 18,330 VND/liter.

During this price adjustment period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or utilize the Fuel Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel fuel, kerosene, and fuel oil.

Source: https://congthuong.vn/ngay-mai-133-gia-xang-du-bao-giam-lan-thu-ba-lien-tiep-377868.html