Gasoline price on December 4: Expected to increase up to 602 VND/liter

In the operating period on December 4, domestic retail gasoline prices are forecast to reverse and increase sharply after a deep decrease, while oil prices tend to decrease slightly.

Gasoline price forecast to increase, oil price to decrease in opposite directions

According to the forecast from the Vietnam Petroleum Institute (VPI), domestic retail gasoline prices are likely to increase in the operating period on December 4, while oil prices are forecast to continue to decrease. Specifically, the VPI model shows that if the Ministry of Finance and Industry and Trade do not use the Price Stabilization Fund, gasoline prices may fluctuate as follows:

• E5 RON 92 gasoline: may increase by 567 VND, to 19,858 VND/liter.
• RON 95-III gasoline: forecast to increase by VND602, to VND20,602/liter.

Forecasts from some petroleum businesses also show a similar trend, with an estimated increase of about VND500/liter for E5 RON 92 gasoline and VND520/liter for RON 95-III gasoline. If this forecast is correct, gasoline prices will increase again after a sharp decrease in the most recent management period on November 27, when E5 RON 92 gasoline decreased by VND519/liter and RON 95-III decreased by VND533/liter.

Forecast of gasoline price increase and oil price decrease in the operating period on December 4

In contrast to gasoline, oil products are expected to fall in price:

• Diesel: down 2.3%, to about 18,368 VND/liter.
• Kerosene: down 2.9%, to 18,905 VND/liter.
• Fuel oil: down slightly by 0.1% to VND13,466/kg.

According to statistics from the beginning of 2025, the price of RON 95 gasoline has increased 26 times and decreased 23 times. Diesel oil has increased 24 times, decreased 23 times and remained unchanged once.

Pressure from the world market

Domestic price movements are influenced by the global market. On the afternoon of December 2 (Vietnam time), the price of North Sea Brent crude oil was trading at 63.18 USD/barrel. However, by the morning of December 3, the price of Brent crude oil had dropped to 62.99 USD/barrel and US WTI crude oil was at 59.16 USD/barrel.

The market is closely monitoring geopolitical factors, including the US's actions with Venezuela, the risk of supply disruptions from Russia and the Russia-Ukraine conflict. In addition, OPEC+'s decision to maintain oil production until December 2026 is also putting pressure on prices in the short term.

Biofuel Conversion Roadmap

In a related development, the Ministry of Industry and Trade issued Circular 50/TT-BCT on the roadmap for applying biofuels. Accordingly, from June 1, 2026, unleaded gasoline nationwide must be blended into E10 gasoline. E5 RON 92 gasoline will continue to be used in parallel until the end of 2030.

Currently, Petrolimex and PVOil have begun piloting the sale of E10 gasoline in several major cities such as Ho Chi Minh City, Hanoi and Hai Phong to prepare for this conversion roadmap.

Source: https://baolamdong.vn/gia-xang-ngay-412-du-bao-tang-toi-602-donglit-406860.html