According to plan, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail gasoline prices periodically tomorrow (June 5).
The leader of a major petroleum distribution enterprise in the South said that after the previous adjustment period, world crude oil prices have recently tended to increase after many sessions of decline.
On June 2, the price of imported gasoline in the Singapore market was at 77.31 USD/barrel for RON 95 gasoline, up nearly 1 USD/barrel compared to 5 days ago; RON 92 gasoline was at 75.47 USD/barrel, down more than 0.2 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 50-100 VND/liter, while diesel prices may increase by 200-250 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 increase in the operating period tomorrow. On June 3, the discount on petroleum at some warehouses was at 900-1,350 VND/liter.
If forecasted, domestic RON 95 gasoline prices will increase slightly for two consecutive sessions after a decrease. 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 11 times, decreased 11 times. Diesel has increased 10 times, decreased 11 times and remained unchanged once.
In the most recent adjustment on May 29, the management agency decided to increase the price of E5 RON 92 gasoline by 70 VND/liter to 19,190 VND/liter; RON 95 gasoline also increased by 30 VND/liter, to 19,560 VND/liter. Meanwhile, diesel oil decreased by 270 VND/liter to 17,130 VND/liter, kerosene decreased by 210 VND/liter to 17,100 VND/liter; fuel oil also decreased by 250 VND/kg to 16,260 VND/kg.
In the world market, in the trading session on June 3, oil prices increased slightly as the war in Ukraine escalated and Iran was expected to reject the nuclear deal with the US. Previously, oil prices increased by nearly 3% in the trading session on June 2 after OPEC+ decided to keep the July production increase at 411,000 barrels/day, lower than market expectations, according to Reuters.
The next OPEC+ meeting will take place on July 6, where the future of August production will be decided and could continue to be a highlight that strongly affects global oil prices.
Not only OPEC+ and geopolitics, natural disasters are also contributing to the high oil prices. Wildfires in Alberta (Canada) - where most of the country's oil sands mining activities are concentrated - have caused many oil and gas fields to temporarily stop production.
In addition, the rise in oil prices was also supported by a weaker US dollar, which made dollar-denominated commodities such as oil more attractive to investors holding other currencies.
According to Trading Economics data, at 10:00 p.m. on June 3, WTI oil was trading at $63.73/barrel, up 4.8% from last week; similarly, Brent oil was also at $65.73/barrel, up 4.7%.
Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-56-tang-tiep-20250603223256863.htm
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