How does VPI forecast gasoline price fluctuations in the operating period on June 5?

The Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) shows that, in the operating period on June 5, retail gasoline prices fluctuated slightly if the Ministry of Finance - Industry and Trade did not set aside or use the Petroleum Price Stabilization Fund.

Gasoline prices are forecast to fluctuate slightly during the operating period on June 5. Photo: 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 only decrease by 58 VND (0.3%) to 19,132 VND/liter, while RON 95-III gasoline may only decrease by 4 VND (3.8%) to 19,556 VND/liter.

VPI's model predicts that diesel prices may increase by 1.2% this period to VND17,336/liter, kerosene may increase by 0.8% to VND17,237/liter, while fuel oil may decrease by 1.4% to VND16,032/kg. VPI predicts that the Ministry of Finance and the Ministry of Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.

In the world market, oil prices increased by nearly 3% in the trading session on June 2, of which Brent oil price increased by 2.95%, to 64.63 USD/barrel; US light sweet crude oil price (WTI) increased by 2.85%, to 62.52 USD/barrel.

According to many experts, oil prices increased due to concerns about supply disruptions, in the context of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, also known as OPEC+, not accelerating plans to increase production.

Meanwhile, according to Reuters calculations, wildfires in Canada's major oil-producing province of Alberta have affected about 7% of Canada's total crude oil production as of June 2. At least two oil sands companies in the southern Fort McMurray area, the heart of Canada's oil and gas industry, have evacuated workers and halted production in response to the disaster.

Also supporting oil prices on June 2 was a weaker US dollar. The greenback fell against most major currencies on June 2, on concerns that President Donald Trump’s new tariff threats could slow US economic growth and push up inflation. A weaker US dollar makes oil, priced in US dollars, cheaper for buyers using other currencies.

Oil prices were also boosted by geopolitical concerns following Ukraine’s latest airstrikes against Russia over the weekend, while mixed signals from US-Iran talks kept the market cautious.

According to VNA

Source: https://doanhnghiepvn.vn/kinh-te/vpi-du-bao-the-nao-ve-bien-dong-gia-xang-trong-ky-dieu-hanh-ngay-5-6-/20250604085240650