Gasoline prices may fall further tomorrow

Data from the Ministry of Industry and Trade over the past 15 days shows that the average price of finished gasoline in the Singapore market continues to decrease, RON 92 is 59.55 USD per barrel, RON 95 is 61.56 USD, down 2-3% compared to the previous period. Therefore, in the new adjustment period on December 21, according to businesses' predictions, gasoline prices may continue to decrease.

According to the director of a petroleum company in Ho Chi Minh City, over the past 15 days, gasoline prices have fluctuated around 59 - 60 USD per barrel, a slight decrease compared to before. Therefore, in this new cycle, if the management agency maintains the Price Stabilization Fund, gasoline prices may decrease by another 200 - 400 VND per liter. Conversely, if the operator drains the fund, gasoline prices will remain unchanged. As for oil, this adjustment period may decrease by 400 - 600 VND per liter.

In the previous adjustment period, the authorities kept the deduction level of 300 VND per liter for E5 RON92 and RON95 gasoline. As for oil products, the deduction level for the Price Stabilization Fund increased to 800 VND per liter and kg, so if the fund is completely drained, both gasoline and oil prices will not increase," said a leader of a petroleum business in Ho Chi Minh City.

In the December 6 adjustment period, E5 RON92 gasoline decreased by VND1,446 per liter, RON 95 gasoline decreased by VND1,513. Oil products also decreased by VND784-1,379 per liter, kg depending on the type. After adjustment, the price of E5 RON92 biofuel is at a maximum of VND17,181 per liter; RON95 gasoline is VND18,459. Diesel oil is no higher than VND16,258; kerosene is VND15,252 and mazut is VND14,402 per kg.

Over the past two months, domestic gasoline and oil prices have seen four consecutive price cuts. In total, each liter of E5RON92 gasoline has dropped by more than VND3,600 and RON95 gasoline by over VND3,800.