Tomorrow, April 4, gasoline prices may increase to 25,000 VND/liter.

Domestic gasoline prices may increase tomorrow. Photo: Nguyen Hue

Tomorrow (April 4) 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 Brent oil increasing 2.4% and WTI oil price increasing 3.2%.

This week, world oil prices continued to rise. Oil prices reached their highest level in the past 5 months. Brent crude oil prices are approaching the 89 USD/barrel mark while WTI crude oil prices have exceeded 85 USD/barrel.

According to data from Oilprice, at 6:24 a.m. on April 3 (Vietnam time), Brent oil was trading at $88.92 per barrel, up $1.5, or 1.72%, from the previous session. WTI oil was at $85.56 per barrel, up $0.41, or 0.48%, from the previous 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 said that domestic oil prices at the adjustment session tomorrow (April 4) may increase following world prices.

Oil and gas companies said that if the regulatory agency does not spend the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices could increase by VND190-300 per liter. Diesel prices could increase by VND310 per liter.

If the above forecast is correct, domestic gasoline prices will increase for the third consecutive session. Accordingly, the price of RON95 gasoline is likely to reach VND25,000/liter.

In case the Ministry of Industry and Trade - Ministry of Finance spends the BOG Fund, gasoline prices may increase less, or even remain the same.

Since the beginning of the year, gasoline prices have increased 8 times and decreased 5 times.

In the most recent gasoline price adjustment period (March 28), retail prices of gasoline products were adjusted in the direction of increasing gasoline prices and decreasing oil prices.

Specifically, the price of E5 gasoline increased by 410 VND/liter, the selling price is 23,620 VND/liter. The price of RON95 gasoline increased by 530 VND/liter, the selling price is 24,810 VND/liter.

On the contrary, the price of diesel oil was adjusted down by 320 VND/liter, selling price is 20,690 VND/liter. The price of kerosene oil decreased by 390 VND/liter, to 20,870 VND/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.

HA (according to Vietnamnet)

Source: https://baohaiduong.vn/ngay-mai-4-4-gia-xang-co-the-tang-len-moc-25-000-dong-lit-377546.html