Gasoline prices will increase on May 29?

According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (May 29).

The leader of a key petroleum distribution enterprise in the South said that after the previous adjustment period, world crude oil prices continued to fluctuate unpredictably, recently showing a downward trend.

On May 27, the price of imported gasoline in the Singapore market was at 76.86 USD/barrel for RON 95 gasoline, up nearly 1 USD/barrel compared to 6 days ago; RON 92 gasoline was at 75.61 USD/barrel, up more than 1 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 50-100 VND/liter, while diesel prices may decrease by 200-350 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 continue to fluctuate in the opposite direction in tomorrow's operating period. On May 28, the discount on petroleum at some warehouses was at 1,200-1,400 VND/liter.

If forecasted, domestic RON 95 gasoline prices will rebound slightly after a decrease. 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 10 times, decreased 11 times. Diesel has increased 10 times, decreased 10 times and remained unchanged once.

In the most recent adjustment period on May 22, the management agency decided to reduce the price of E5 RON 92 gasoline by 60 VND/liter to 19,120 VND/liter; RON 95 gasoline also decreased by 60 VND/liter, to 19,530 VND/liter. Meanwhile, diesel increased by 180 VND/liter to 17,400 VND/liter, kerosene increased by 90 VND/liter to 17,310 VND/liter; and fuel oil also increased by 350 VND/kg to 16,510 VND/kg.

In the world market, in the trading session on May 27, oil prices fluctuated slightly as investors cautiously waited for the decision from the OPEC+ meeting scheduled to take place on May 28, according to Reuters.

Brent crude futures closed down 65 cents, or 1%, at $64.09 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 64 cents, or about 1.04%, to $60.89 a barrel.

The price action reflects concerns about the possibility of OPEC+ increasing production in July, along with strategic adjustments from Saudi Arabia to cope with falling oil prices. In addition, tensions between the US and Iran continue to affect market sentiment.

According to Trading Economics data, at 10:00 a.m. on May 28, WTI oil was trading at $61.29/barrel, down 0.4% from last week; similarly, Brent oil was also at $64.48/barrel, down 0.46%.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-295-se-bat-tang-20250528100714709.htm