After two increases, what will domestic gasoline prices be like tomorrow?

Gasoline prices may be adjusted down tomorrow

Tomorrow, October 17, is the time to regulate retail gasoline prices according to Decree 80/2023.

In the world market, oil prices last week recorded the second consecutive week of increase. Overall, both benchmark oil prices increased by more than 1% last week.

But this week, oil prices fell consecutively in the first two trading sessions of the week, with a decrease of more than 2% in the session of October 14 and more than 4% in the session of October 15. Oil prices plummeted after news that Israel would not attack Iran's crude oil or nuclear facilities.

At the beginning of the trading session on October 16, oil prices turned slightly up. According to data from Oilprice, at 8:06 a.m. on October 16 (Vietnam time), compared to the previous session, Brent oil price was at 74.51 USD/barrel, up 0.35%; WTI oil price was at 70.87 USD/barrel, up 0.41%.

In the Singapore market, the average price of finished gasoline in the last period decreased quite sharply compared to the previous period.

Based on the developments in world oil prices, some oil businesses believe that domestic oil prices at the October 17 adjustment period may be adjusted downward.

If the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by VND130-180 per liter. Diesel prices could decrease by about VND180-230 per liter.

In case the regulatory agency draws from the Petroleum Price Stabilization Fund, the gasoline price may decrease less.

If the above forecast is correct, domestic gasoline prices will reverse downward after a sharp increase in the previous management period.

In the most recent adjustment period (October 10), the prices of all types of gasoline and oil were adjusted to increase sharply by the Ministry of Industry and Trade - Ministry of Finance.

Specifically, the price of E5 gasoline increased by VND990/liter, to VND19,840/liter. The price of RON 95 gasoline increased by VND1,260/liter, selling price is VND21,060/liter.

Similarly, diesel price increased by VND1,100/liter, to VND18,930/liter. Kerosene price increased by VND1,140/liter, to VND18,790/liter.

TH (synthesis)

Source: https://baohaiduong.vn/sau-hai-lan-tang-gia-xang-dau-trong-nuoc-ngay-mai-ra-sao-395784.html