After the 1,800 VND reduction, how much will gasoline prices increase in the next adjustment period?

The leader of the Domestic Market Department - Ministry of Industry and Trade said that the Ministry of Industry and Trade - Ministry of Finance will adjust retail gasoline prices on Monday (October 23) instead of Saturday (October 21) as usual.

Because, according to the provisions of Decree 95/2021/ND-CP on petroleum trading, October 21 is the date for adjusting domestic petroleum retail prices. However, due to coinciding with a holiday according to State regulations, it will be moved to the first working day of the following week, which is Monday (October 23).

Updated prices of finished petroleum products on the Singapore market as of the evening of October 18 increased slightly. Accordingly, the price of RON95 gasoline has surpassed the 100 USD mark, up to 100.47 USD/barrel; E5 RON92 gasoline 95.78 USD/barrel; diesel 119.47 USD/barrel...

Domestic retailers predict that due to the upward trend in world oil prices, domestic gasoline prices are likely to increase slightly in the next adjustment period. The predicted increase is VND200-500/liter for gasoline and VND30-100/liter/kg of oil.

Currently, the retail prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of October 11 of the Ministry of Finance - Industry and Trade.

Specifically, the price of E5 RON92 gasoline decreased by VND1,595/liter, not higher than VND21,907/liter. The price of RON95 gasoline was not higher than VND23,044/liter, a decrease of VND1,798/liter.

Oil prices also decreased. Diesel prices were no higher than VND22,410/liter, down VND1,184/liter. Kerosene prices were at VND22,464/liter, down VND1,352/liter compared to the current retail price. Fuel oil prices were down to VND16,238/kg, down VND1,214/kg.

Thus, since the beginning of the year, gasoline prices have undergone 29 adjustments, including 16 increases, 9 decreases and 4 unchanged.

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