Gas prices will increase again tomorrow?

According to the plan, the Ministry of Industry and Trade - Ministry of Finance will announce the new retail price of gasoline on October 16. The price of imported gasoline from Singapore shows that domestic gasoline prices will likely increase slightly.

The leader of a key enterprise in the South said that after the previous management period, the world crude oil price fluctuated in opposite directions, recently showing an upward trend. On October 14, the import price of RON 95 gasoline in Singapore was at 78.36 USD/barrel, RON 92 was 75.62 USD/barrel, down nearly 1 USD/barrel compared to 7 days ago.

With this development, domestic gasoline prices are forecast to increase slightly by about 50-150 VND/liter. Meanwhile, diesel prices may decrease by about 200-250 VND/liter. If the regulatory agency only uses the Petroleum Price Stabilization Fund, gasoline prices may remain unchanged.

The owner of a petroleum distribution company in the North also predicted that petroleum prices will fluctuate in opposite directions in tomorrow's operating period. On October 14, the petroleum discount at some warehouses was at 1,200-1,600 VND/liter.

If forecasts are correct, domestic gasoline prices will increase slightly after a decrease. Since the beginning of the year, RON 95 gasoline has increased 23 times, decreased 19 times. Diesel oil has increased 21 times, decreased 19 times and remained unchanged once.

In the most recent adjustment on October 9, the price of E5 RON 92 gasoline decreased by VND490/liter to VND19,130/liter; RON 95 gasoline decreased by VND480/liter to VND19,720/liter. Diesel oil decreased by VND430/liter to VND18,600/liter, kerosene decreased by VND570/liter to VND18,430/liter; fuel oil decreased by VND570/kg to VND14,800/kg.

In the international market, oil prices fell 2% in the session on October 14 after the International Energy Agency (IEA) warned of a serious risk of oversupply in 2026, in the context of trade tensions between the US and China that have not yet cooled down. In the previous trading session, Brent crude oil prices increased by 0.9% and US WTI crude oil prices increased by 1%.

Speaking to Reuters, Dennis Kissler, senior vice president of trading at BOK Financial, said the new tensions between the US and China are putting pressure on oil prices, because if they escalate, the Chinese economy could face difficulties.

Meanwhile, UBS expert Giovanni Staunovo said that risk aversion is increasing as trade tensions affect the market, while the IEA report is negative.

In another development, the IEA forecasts that the global oil market will have a surplus of up to 4 million barrels per day next year, as OPEC+ countries (including member countries of the Organization of the Petroleum Exporting Countries and 10 other producing countries) and rivals increase production while demand remains weak.

In a monthly report released on October 13, OPEC and partners such as Russia gave a more optimistic assessment, saying that the oversupply situation will gradually decrease by 2026 as the OPEC+ alliance continues its path of controlled production increases.

According to Trading Economics data, at 1:50 a.m. on October 15, WTI oil price was trading at $58.78/barrel, down 0.16% compared to last week. Brent oil price also decreased 0.33%, to $62.49/barrel.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-ngay-mai-se-tang-tro-lai-20251015015316865.htm