After a sharp increase, gasoline prices are expected to stabilize or decrease slightly.

According to the gasoline and oil price forecast model of the Vietnam Petroleum Institute (VPI), in the operating period on November 6, retail gasoline prices will be stable or may decrease slightly by 0.1% compared to the previous operating period.

Retail prices of popular gasoline and oil products on the market are forecast to stabilize or decrease slightly on the afternoon of November 6. Photo: TH

According to Mr. Doan Tien Quyet, data analysis expert of VPI, the gasoline and oil price forecasting model applying artificial neural networks and supervised learning algorithms in machine learning predicts that the retail price of E5 RON 92 gasoline will be stable or may only decrease slightly by 0.1% to 19,740 VND/liter, while RON 95-III gasoline is forecasted to only decrease slightly by 0.1% to 20,455 VND/liter.

VPI's model forecasts that in this period, fuel oil prices may decrease by 2.2% to VND14,308/kg, while kerosene and diesel prices may increase by 0.5% to VND19,366/liter and VND19,296/liter, respectively.

VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.

In the operating period on October 30, the selling prices of popular gasoline and oil products on the market all increased sharply. Specifically, E5RON92 gasoline increased by 710 VND/liter, RON95-III gasoline increased by 762 VND/liter; 0.05S diesel increased by 1,318 VND/liter; kerosene increased by 1,156 VND/liter and 180CST 3.5S fuel oil increased by 541 VND/kg.

Source: https://hanoimoi.vn/sau-tang-manh-du-bao-gia-xang-on-dinh-hoac-giam-nhe-722171.html