Gasoline price on May 22 increase or decrease?

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (May 22).

The leader of a key petroleum distribution enterprise in the South said that after the previous adjustment period, world crude oil prices fluctuated unpredictably.

On May 20, the price of imported gasoline in the Singapore market was at 76.33 USD/barrel for RON 95 gasoline, down more than 1 USD/barrel compared to 6 days ago; RON 92 gasoline was at 74.8 USD/barrel, up more than 2 USD/barrel. Therefore, domestic gasoline prices are likely to increase slightly in tomorrow's adjustment period.

Specifically, gasoline prices are expected to increase by about 100-150 VND/liter, while diesel prices may decrease by 150-200 VND/liter. In case the Ministry of Industry and Trade and the Ministry of Finance jointly use the Price Stabilization Fund, gasoline prices may remain unchanged.

In addition, the owner of a petroleum distribution company in the North also predicted that petroleum prices will fluctuate in the opposite direction in tomorrow's operating period. On May 20, the discount on petroleum at some warehouses was at 1,000-1,350 VND/liter.

If forecasts are correct, domestic RON 95 gasoline prices will increase for two consecutive sessions. Currently, this fuel price 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 10 times, decreased 10 times. Diesel has increased 9 times, decreased 10 times and remained unchanged once.

In the most recent adjustment period on May 15, the management agency decided to increase the price of E5 RON 92 gasoline by 410 VND/liter to 19,180 VND/liter; RON 95 gasoline increased by 420 VND/liter to 19,590 VND/liter. Similarly, diesel increased by 420 VND/liter to 17,220 VND/liter, kerosene increased by 280 VND/liter to 17,220 VND/liter; and fuel oil also increased by 630 VND/kg to 16,160 VND/kg.

Last week, global crude oil prices fluctuated slightly in the context of the market being affected by many geopolitical and economic factors. While Brent oil prices fluctuated around 65.5 USD/barrel, WTI oil remained stable above 62 USD/barrel.

In the trading session on May 20, world oil prices did not fluctuate much. Brent oil decreased by 6 cents to 65.48 USD/barrel, while WTI increased slightly to 62.70 USD/barrel, according to Reuters.

The risk of a breakdown in nuclear talks between the US and Iran has pushed oil prices up slightly. At the same time, economic data from China has also weighed on investor sentiment. However, oil prices have remained stable thanks to continued growth in Asian oil demand.

According to Mr. John Kilduff - partner at Again Capital (New York), oil prices are likely to fluctuate in the coming time, as investors monitor developments related to tax policy, US - Iran negotiations and efforts to end the conflict in Ukraine.

According to Trading Economics data, at 11:30 p.m. on May 20, WTI oil was trading at $62.24 per barrel, up 0.49% from last week; similarly, Brent oil was also at $65.66 per barrel, up 0.38%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-225-tang-hay-giam-20250520234832091.htm