Specifically, many representatives of petroleum enterprises said that if the management agency does not use the price stabilization fund, the price of gasoline could increase by about 400 - 550 VND/liter, and the price of oil could increase by 300 - 500 VND/liter or kg.
Meanwhile, according to the gasoline price forecast model of the Vietnam Petroleum Institute (VPI), in the next adjustment period, gasoline prices may increase by 1.8%, while oil prices may increase by 1.5 - 2% if the Ministry of Finance and Industry and Trade do not set aside or use the gasoline price stabilization fund.
Accordingly, VPI forecasts that the retail price of E5 RON92 gasoline may increase by VND352 to VND20,212/liter, while RON95 gasoline may increase by VND369 to VND20,959/liter.
Gasoline prices are expected to increase slightly this afternoon (Illustration: Minh Duc).
VPI also forecasts that oil prices this period will tend to increase by 1.5 - 2%, of which fuel oil may increase by 1.5% to 15,803 VND/kg, kerosene is forecast to increase by 1.6% to 18,866 VND/liter, and diesel may increase by 2% to 18,619 VND/liter.
In the operating period on December 12, the price of E5 RON92 gasoline decreased by 3 VND/liter, not higher than 19,861 VND/liter; conversely, the price of RON95 gasoline increased by 33 VND/liter, not higher than 20,596 VND/liter.
Meanwhile, the prices of all types of oil decreased. Diesel oil price decreased by 127 VND/liter, not higher than 18,255 VND/liter. Kerosene price decreased by 251 VND/liter, not higher than 18,566 VND/liter and fuel oil price decreased by 551 VND/kg, not higher than 15,574 VND/kg.
On the world market at 6am this morning (Vietnam time), Brent oil price increased by 20 cents (0.27%) to 73.39 USD/barrel. WTI oil price increased by 50 cents, equivalent to 0.71%, to 70.58 USD/barrel. During the session, there was a time when both benchmark oil products increased by more than 1 USD.
Reuters cited data from the US Energy Information Administration (EIA) as saying that in the week ended December 13, US crude oil and distillate inventories fell by 900,000 barrels and 3.2 million barrels, respectively. Meanwhile, gasoline inventories increased by 2.3 million barrels. This crude oil inventory level is five times lower than the 4.7 million barrel inventory decrease reported by the American Petroleum Institute a day earlier.
Also according to the EIA, total supply, which represents demand, was 20.8 million barrels per day, up 662,000 barrels per day from the previous week. According to analysts, the market seems to have completely turned around from all the negativity that happened a few weeks ago because there is more optimism about demand.
On December 18, as expected, the Fed cut interest rates by 25 basis points. This supported oil prices. However, the signal from the Fed showed that the Fed would slow the pace of reducing borrowing costs, due to the relatively stable unemployment rate and recent inflation has improved little.
Source: https://vtcnews.vn/gasoline-price-in-nuoc-co-the-tang-tu-chieu-nay-ar914701.html
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