Domestic gasoline prices may increase after three consecutive sessions of decline.

Therefore, experts predict that in the upcoming management period, it is very likely that the authorities will slightly increase the retail price of gasoline, the expected increase is 200 - 300 VND/liter.

Responding to VTC News , Dr. Giang Chan Tay, Director of Boi Ngoc LLC, a leading petroleum enterprise in the South, said that it is predicted that the petroleum price in the operating period on May 21 will be adjusted upwards.

“ Gasoline prices may increase slightly by 200-300 VND/liter. However, the adjustment will depend on the fluctuations in world oil prices over the weekend and on the allocation of the oil price stabilization fund and other adjustment fees, if any, ” said Mr. Tay.

Domestic gasoline prices may increase after 3 consecutive sessions of decrease - 1 — Domestic gasoline prices are expected to increase slightly in the next adjustment period. (Illustration photo: Cong Hieu)

Meanwhile, Mr. Bui Ngoc Bao, Chairman of the Vietnam Petroleum Association, said that world oil prices have fluctuated continuously in recent days, but with an upward trend in the first trading sessions of the week and a slight decrease in the last two days of the week, May 18-19.

Early this morning, the price of WTI crude oil on the world market reversed and decreased slightly by 0.62 USD/barrel, down to 72.1 USD/barrel. Meanwhile, the price of Brent oil traded at 75.86 USD/barrel, down 1.1 USD/ounce. Analysts said that the oil price went down due to cautious sentiment, waiting for the results of negotiations on the US debt ceiling.

“ World oil prices are about 2.3% higher than last weekend, so domestic gasoline prices may increase slightly. However, the specific adjustment of gasoline prices has been calculated by the competent authorities ,” said Mr. Bao.

The domestic retail price of gasoline on May 19 was applied according to the May 11 management session of the Ministry of Finance - Industry and Trade. Specifically, the price of RON95 gasoline fell to VND21,000, down VND1,320/liter, and E5 RON92 gasoline was VND20,130, down VND1,300/liter.

Prices of petroleum products also decreased simultaneously. Diesel oil is 17,650 VND/liter, down 600 VND. Kerosene has a new price of 17,970 VND/liter, down 550 VND; fuel oil has a new price of 14,860 VND/kg.

In this adjustment period, the regulatory agency has decided to set aside 300 VND/liter for E5 gasoline, RON 95, DO oil, kerosene, and mazut oil.

The operator also did not spend the petrol price stabilization fund, and at the same time set aside 500 VND/liter for E5 and RON95 gasoline, and 300 VND/liter for oil products.

Thus, the price of gasoline has decreased for the third consecutive time. Notably, the price of this fuel is at its lowest level in 20 months. On September 10, 2021, E5 RON92 gasoline was priced at VND20,143/liter, RON95 gasoline was priced at VND21,397/liter.

Since the beginning of the year, gasoline prices have undergone 14 adjustments. Of these, 7 have increased, 6 have decreased, and 1 has remained unchanged.

PHAM DUY

Useful
Emotion
Creative
Unique

Source