Gasoline prices may increase again tomorrow
Data from the Ministry of Industry and Trade shows that the average price of finished gasoline in the Singapore market in this cycle is 58.2 USD per barrel for RON 92 and 60.3 USD per barrel for RON 95, up 8-9% compared to the previous period. Therefore, in the new adjustment period on January 16, gasoline and oil prices may increase sharply.
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In the world market, gasoline prices are above 60 USD per barrel, an increase of 8 - 9% compared to the previous management period.
Leaders of key enterprises in Ho Chi Minh City said that if the management agency kept the previous price stabilization fund level, gasoline prices could increase by 600 - 900 VND per liter. On the contrary, if more funds were used, prices would only increase slightly.
However, it is still possible that gasoline prices will be "controlled" by the management agency because Tet is approaching. "To stabilize the macro economy, control inflation, and contribute to reducing input costs for businesses, the management agency may set aside additional stabilization funds and decide to use the funds. In this case, gasoline prices will remain unchanged," said a representative of a major petroleum business in Ho Chi Minh City.
In the adjustment period on January 1, each liter of E5 RON 92 gasoline decreased by 515 VND, RON 95 gasoline by 538 VND. Oil products decreased more deeply, 733 - 1,092 VND per liter, kg depending on the type.
After adjustment, each liter of E5 RON 92 gasoline is a maximum of VND16,272 per liter; RON 95 gasoline is VND17,603; kerosene is VND14,185, diesel is VND14,909 and mazut is VND13,275 per kilogram.
Along with the retail price reduction, the operator reduced the Price Stabilization Fund for gasoline and oil products, except for E5 RON 92 gasoline. Accordingly, the Fund's release rate for RON95 gasoline is 500 VND per liter, diesel is 800 VND, kerosene is 700 VND and mazut is 500 VND per kg.
