Gasoline price on June 19 will increase by more than 1,000 VND/liter?

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (June 19).

The leader of a key petroleum distribution company in the South said that after the previous adjustment period, world crude oil prices increased sharply due to tensions between Iran and Israel.

On June 16, the price of imported gasoline in the Singapore market was at 85.14 USD/barrel for RON 95 gasoline, an increase of nearly 7 USD/barrel compared to 5 days ago; RON 92 gasoline was at 76.85 USD/barrel, an increase of more than 6 USD/barrel. Therefore, it is likely that domestic gasoline prices will increase sharply in tomorrow's adjustment period.

Specifically, gasoline prices are expected to increase by about VND950-1,100 per liter, while diesel may increase by VND1,000-1,100 per liter. If the Ministry of Industry and Trade and the Ministry of Finance jointly use the Price Stabilization Fund, gasoline prices may increase less.

The owner of a petroleum distribution company in the North also predicted that the price of petroleum will increase by more than 1,000 VND/liter in tomorrow's operating period. On June 17, the discount on petroleum at some depots was very low at 100-500 VND/liter, and in some places the discount was even 0 VND.

If forecasts are correct, domestic RON 95 gasoline prices will increase for 4 consecutive sessions. Currently, this fuel price is still at the lowest level in the past 4 years, equivalent to May 2021. Since the beginning of the year, RON 95 gasoline has increased 13 times, decreased 11 times. Diesel has increased 12 times, decreased 11 times and remained unchanged once.

In the most recent adjustment period on June 12, the management agency decided to increase the price of E5 RON 92 gasoline by VND200/liter to VND19,460/liter; RON 95 gasoline also increased by VND270/liter, to VND19,960/liter. Meanwhile, diesel increased by VND280/liter to VND17,700/liter, kerosene increased by VND230/liter to VND17,510/liter; meanwhile, mazut increased by VND290/kg to VND16,460/kg.

In the world market, in the trading session on June 17, oil prices continued to increase by more than 4% in the context of tensions between Iran and Israel showing no signs of cooling down, according to Reuters.

The ongoing conflict between Iran and Israel has made oil transportation through the Strait of Hormuz - one of the world's most important routes - more risky. Some experts predict that if this situation is not controlled soon, oil prices will fluctuate in the coming time.

There are still signs of ample oil supplies amid forecasts for lower demand. In its monthly oil report released on June 17, the International Energy Agency revised its estimate of world oil demand down by 20,000 barrels a day from last month's forecast and raised its supply estimate by 200,000 barrels a day to 1.8 million barrels a day, according to Reuters.

Trading Economics data shows that at 2:00 a.m. on June 18, WTI oil price was trading at 74.94 USD/barrel, up 2.75% compared to last week; similarly, Brent oil was also at 76.44 USD/barrel, up 2.99%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-196-se-tang-hon-1000-donglit-20250618023447676.htm