Gasoline prices may drop by 1,000 VND tomorrow
Key businesses believe that gasoline prices may drop sharply in tomorrow's adjustment period, as the Singapore market has dropped more than 10% in the past 15 days.
Data from the Ministry of Industry and Trade shows that the average price of finished gasoline on the Singapore market updated to April 24 for RON 92 was at $18.57 per barrel, and for RON 95 gasoline was $19.88 per barrel, down 10% and 6.5% respectively compared to the previous period. Oil prices also fell, reaching $13.06 per barrel on one day.
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| Gasoline prices may drop by 1,000 VND. |
On April 20, the price of WTI crude oil for May delivery had an unprecedented day of volatility when it fell to minus 37.63 USD per barrel - the first time in history it fell below zero. However, it is difficult for Vietnam's gasoline prices to fall deeply because this product is being imported and sold based on Brent crude oil prices, not WTI. On the other hand, the operator is directing domestic consumption, so gasoline prices in this operating period still decreased but not too suddenly.
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"Based on the average import price, tomorrow's gasoline price may decrease by 600 - 1,000 VND per liter, and the oil price may decrease by more than 1,000 VND. However, if the manager withdraws from the price stabilization fund or uses the fund, the gasoline price may decrease by 400 - 600 VND per liter," said the leader of the above petroleum business.
In the operating period on April 13, each liter of gasoline decreased by more than 600 VND to over 11,000 VND, oil products decreased by 126 - 502 VND.
After adjustment, the maximum price of E5 RON 92 gasoline is 11,343 VND per liter; RON 95 is no more than 11,939 VND; diesel is 10,823 VND, kerosene is 8,639 VND and mazut is a maximum of 9,328 VND per kilogram.
Along with the price reduction, the operator also deducted VND400 from the Gasoline Price Stabilization Fund for each liter of E5 RON 92 gasoline; VND1,400 for RON 95, kerosene, and diesel, and VND200 per kilogram for mazut. This operating period continues to not use the Stabilization Fund.
Things to know about procedures to receive the 62,000 billion support package
Freelance workers will go to the ward or commune People's Committee to submit their application, while unemployed people will go to the enterprise and wait 5-12 working days for approval and payment.
