Tomorrow (May 7, 2025) is the time to regulate retail gasoline prices according to Decree 80/2023/ND-CP amending and supplementing a number of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trading.
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| Gasoline prices at tomorrow's operating period (May 8, 2025) are forecast to decrease following world prices. Thus, gasoline prices may decrease twice in a row in 1 week. Photo: Dinh Tuan |
This morning, trading at 8:55 a.m. (Vietnam time), WTI crude oil price was traded at 59.55 USD/barrel, up 0.46 USD/barrel, equivalent to an increase of 0.78% compared to yesterday's trading session. Brent oil price was traded at 62.53 USD/barrel, up 0.38 USD/barrel, equivalent to an increase of 0.61%.
Meanwhile, gasoline prices in the Singapore market, updated as of May 6, are trending downward, but the decrease is not significant. Specifically, the price of RON 95 gasoline is at 74.97 USD/barrel, down more than 1.87 USD/barrel compared to 3 days ago; RON 92 gasoline is at 73.46 USD/barrel, down more than 1.7 USD/barrel. Therefore, it is likely that domestic gasoline prices will continue to decrease in tomorrow's adjustment period.
Based on the developments in world oil prices, some oil and gas businesses believe that domestic oil and gas prices at the May 8 adjustment period are expected to be adjusted down according to world prices.
Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices may decrease by about VND430-520/liter. Similarly, diesel prices may be adjusted down by VND630-780/liter.
In case the regulatory agency draws from the Price Stabilization Fund, the price of gasoline may decrease less. If forecasts are correct, the domestic price of RON 95 gasoline will decrease for the second consecutive time. Currently, the price of this fuel is still at its lowest level in the past 4 years.
In another development, the Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) said that in the operating period on May 8, the retail price of E5 RON 92 gasoline could decrease by 613 VND (3.2%) to 18,537 VND/liter, while RON 95-III gasoline could decrease by 636 VND (3.2%) to 18,944 VND/liter.
VPI's model predicts that retail oil prices this period will also tend to decrease by more than 4%, specifically diesel may decrease by 4.1% to VND16,647/liter, kerosene may decrease by 4.6% to VND16,752/liter, and fuel oil may decrease by 4.1% to VND15,526/kg. VPI predicts that the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
Previously, in the operating period on May 5, 2025 of the Ministry of Industry and Trade - Finance, gasoline prices were adjusted down, specifically, the price of E5 RON 92 gasoline decreased by 84 VND/liter, down to 19,154 VND/liter; RON 95 gasoline decreased by 52 VND/liter, down to 19,586 VND/liter.
The price of 0.05S diesel decreased by VND165/liter, down to VND17,359/liter; kerosene decreased by VND151/liter, down to VND17,564/liter; the price of 180CST 3.5S mazut decreased by VND326/kg, down to VND16,198/kg.
In this operating period, the Ministry of Industry and Trade - Ministry of Finance did not set aside or use the Petroleum Price Stabilization Fund for E5RON92 gasoline, RON95 gasoline, diesel oil, kerosene, and mazut oil.
| Since the beginning of 2025, domestic gasoline prices have undergone 18 adjustment sessions, including 10 decreases, 7 increases and 1 opposite session. |
Source: https://congthuong.vn/gia-xang-tiep-da-giam-du-bao-co-the-ha-lan-thu-hai-lien-tiep-386445.html
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