According to the plan, tomorrow (June 20) 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, world oil prices last week recorded a strong increase after 3 consecutive weeks of decline.

Both Brent and WTI crude futures rose about 4% last week, their biggest weekly gains since April.

This week, world oil prices continued to rise. On June 18, world oil prices continued to climb more than 1% after increasing 2% in the first trading session of the week, reaching a 6-week high.

At the beginning of the session on June 19, world oil prices continued to rise due to the prospect of increased demand. Brent oil prices exceeded 85 USD/barrel, WTI oil prices headed towards 82 USD/barrel.

According to data from Oilprice, at 6:19 a.m. on June 19 (Vietnam time), Brent oil was trading at $85.33/barrel, up 1.28% from the previous session. WTI oil was at $81.61/barrel, up 0.05% from the previous session.

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Gasoline prices are expected to increase. Photo: Nguyen Hue

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

Based on the developments in world oil prices, leaders of some oil companies believe that domestic gasoline prices at the adjustment session tomorrow (June 20) are likely to increase slightly.

Oil and gas companies predict that if the regulatory agency does not affect the Oil and Gas Price Stabilization Fund (BOG Fund), domestic gasoline prices could increase by 180-220 VND/liter. Oil prices are expected to increase by 120-150 VND/liter, depending on the type.

In case the Ministry of Finance and Industry and Trade spend the BOG Fund, gasoline prices are likely to increase less or even remain the same.

If the above forecast is correct, domestic gasoline prices will increase for the second consecutive session.

In the most recent gasoline price adjustment period (June 13), gasoline prices were jointly adjusted by the Ministry of Industry and Trade - Ministry of Finance to increase gasoline products (except fuel oil).

Specifically, the price of E5 gasoline increased by 170 VND/liter, the selling price is 21,310 VND/liter. The price of RON 95 gasoline increased by 260 VND, the selling price is 22,230 VND/liter.

Similarly, diesel price was also adjusted up by 220 VND/liter, selling price at 19,640 VND/liter.

Kerosene price was adjusted up by 300 VND/liter, selling price up to 19,850 VND/liter.

Today's gasoline price, June 19, 2024, is the highest in 6 weeks, the upward trend has not stopped . Today's gasoline price, June 19, 2024, on the international market continues to increase due to demand prospects. Oil prices have reached their highest level in the past 6 weeks.