Gasoline prices will increase on May 15?

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (May 15).

The leader of a major petroleum distribution company in the South said that after the previous adjustment period, crude oil prices have recovered after many sharp declines.

On May 13, the price of imported gasoline in the Singapore market was at 77.69 USD/barrel for RON 95 gasoline, an increase of nearly 3 USD/barrel compared to 3 days ago; RON 92 gasoline was at 73.46 USD/barrel, an increase of more than 2 USD/barrel. Therefore, it is likely that domestic gasoline prices will rebound in tomorrow's adjustment period.

Specifically, gasoline prices are expected to increase by about 350-500 VND/liter, diesel may increase by 350-400 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly use the Price Stabilization Fund, gasoline prices may increase less.

In addition, the owner of a petroleum distribution company in the North also predicted that petroleum prices will increase in tomorrow's operating period. On May 13, the petroleum discount at some warehouses was as low as 500-800 VND/liter.

If forecasted, domestic RON 95 gasoline prices will rebound after two consecutive declines. Currently, the price of this fuel is still at its lowest level in the past 4 years, equivalent to May 2021. Since the beginning of the year, RON 95 gasoline has increased 9 times, decreased 10 times. Diesel has increased 8 times, decreased 10 times and remained unchanged once.

In the most recent adjustment period on May 8, the management agency decided to reduce the price of E5 RON 92 gasoline by 380 VND/liter to 18,770 VND/liter; RON 95 gasoline by 410 VND/liter to 19,170 VND/liter. Similarly, diesel oil decreased by 550 VND/liter to 16,800 VND/liter, kerosene decreased by 620 VND/liter to 16,940 VND/liter; and fuel oil decreased by 660 VND/kg to 15,530 VND/kg.

In the world market, crude oil prices have recently increased mainly due to improved market sentiment thanks to positive signals from US-China trade relations and US inflation data.

Specifically, on May 13, the US and China agreed to suspend tariffs for 90 days, including a significant reduction in existing tariffs. On the same day, US consumer inflation data in April also showed a lower-than-expected increase, raising expectations that the US Federal Reserve (Fed) will not rush to raise interest rates - a positive factor for commodity prices, including oil, according to Reuters.

However, the gains are likely to be capped by concerns over rising supply, especially as Saudi Arabia is expected to keep its oil exports to China at their highest level in more than a year - around 48 million barrels in June.

According to Trading Economics data, at 0:30 on May 14, WTI oil price was trading at 63.73 USD/barrel, up 4.54% compared to last week; similarly, Brent oil was also at 66.73 USD/barrel, up 4.4%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-155-se-bat-tang-20250514010013509.htm