VPI forecasts gasoline prices to decrease slightly, oil prices to increase in 24/7 operating period

The Vietnam Petroleum Institute's (VPI) Machine Learning-based gasoline price forecasting model shows that, in the operating period on July 24, retail gasoline prices may decrease slightly by 0.8%, while oil prices may increase by 0.8-2% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the Petroleum Price Stabilization Fund.

Buying and selling gasoline and oil at Petrolimex gasoline business points. Illustration photo: Tran Viet/VNA

According to Mr. Doan Tien Quyet, data analysis expert of VPI, the gasoline price forecasting model applying the Artificial Neural Network (ANN) model and the supervised learning algorithm in Machine Learning of VPI predicts that the retail price of E5 RON 92 gasoline may decrease by 160 VND to 19,320 VND/liter, and RON 95-III gasoline may decrease by 162 VND to 19,758 VND/liter.

Meanwhile, VPI's model forecasts that retail oil prices this period will increase slightly from 0.8-2%, specifically diesel may increase by 374 VND (2%) to 19,164 VND/liter, kerosene may increase by 1.1% to 18,624 VND/liter, and mazut is forecast to increase by 0.8% to 15,343 VND/kg. 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 world market, oil prices fell for the third consecutive session on July 22 as hopes for a trade agreement between the US and Europe faded. At the end of the trading session on July 22 (US time), Brent crude futures fell 1.2% to $68.39/barrel, while US light sweet crude (WTI) for August 2025 delivery fell 1.6% to $66.15/barrel.

Analysts at energy consultancy Ritterbusch and Associates said the tariff factor is gaining more attention as the US deadline approaches.

Energy consultancy Ritterbusch and Associates said the decline in oil prices could be limited if the US scaled back or delayed the threatened tariffs. Meanwhile, analysts forecast a decline of about 600,000 barrels in US crude inventories in the week ended July 18, according to a Reuters survey.

According to VNA

Source: https://baothanhhoa.vn/vpi-du-bao-gia-xang-giam-nhe-gia-dau-tang-trong-ky-dieu-hanh-24-7-255807.htm