Tomorrow (April 11) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.

Domestic gasoline prices are being affected by world gasoline prices and the Singapore market.

In the world market, oil prices increased sharply last week with both benchmarks increasing by 4%, to the highest level in more than 5 months.

However, this week, world oil prices have shown a cooling trend. In the first two trading sessions of the week, oil prices fell 1% each session.

In the Singapore market, the average price of finished gasoline in the last period increased compared to the previous period. However, the increase was not too large.

Based on the developments in world oil prices, leaders of some oil companies believe that domestic oil prices at the adjustment session tomorrow (April 11) may increase according to world prices calculated on average last week.

W-gasoline-head-4-10-1.jpg
Domestic gasoline prices may increase tomorrow. Photo: Nguyen Hue

Petroleum businesses said that if the regulatory agency does not spend the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices could increase by 90-150 VND/liter; diesel prices could increase by 670 VND/liter.

If the above forecast is correct, E5 RON 92 gasoline will have its fourth consecutive price increase. RON95 gasoline price will reach 25,000 VND/liter.

In case the Ministry of Industry and Trade - Ministry of Finance spends the BOG Fund, the price of gasoline may remain the same.

Since the beginning of the year, gasoline prices have increased 8 times, decreased 5 times, and changed in the opposite direction once.

In the most recent gasoline price adjustment period (April 4), retail prices of gasoline products were adjusted to reduce the price of RON 95 gasoline but increase the price of E5 RON 92 gasoline and oil products.

Specifically, the price of RON 95 gasoline decreased by 10 VND/liter, the selling price was 24,800 VND/liter.

In the opposite direction, the price of E5 gasoline increased by 290 VND/liter, reaching 23,910 VND/liter.

Diesel prices were also adjusted up by VND290/liter, bringing the retail price to VND20,980/liter. Kerosene prices increased by VND140/liter, to VND21,010/liter.

In this management period, the Ministry of Finance and the Ministry of Industry and Trade did not set aside and did not spend the Price Stabilization Fund for most types of gasoline and oil, except for the 300 VND/liter provision for fuel oil.

Today's oil price, April 10, 2024, maintains green . Today's oil price, April 10, 2024, on the international market maintained its upward momentum from the previous session. Oil prices rose as hopes for a ceasefire in the Middle East faded.