Gasoline prices may increase sharply tomorrow

After two downward adjustments, gasoline prices may turn up tomorrow.

April 20 is the time when the regulatory agency announced the adjustment of the base price of gasoline for the next 15-day cycle. According to the price data of finished products on the Singapore market announced by the Ministry of Industry and Trade, the average price of RON 92 gasoline is at 66 USD per barrel, up 6.5% compared to the previous cycle (61.8 USD per barrel).

Gasoline prices under strong pressure tomorrow.

Sharing with VnExpress, many petroleum trading enterprises said that world gasoline prices increased sharply last week, so the upcoming adjustment period will increase the price of this product.

“There are two scenarios that could happen during this cycle. Specifically, if the management agency uses the Price Stabilization Fund, gasoline prices could increase by VND300-400 per liter, and oil prices by VND200-300 per liter. In case the management agency does not release the fund, gasoline could increase sharply by VND700 per liter, and oil prices by VND600 per liter,” said a leader of a major petroleum enterprise in Ho Chi Minh City.

This person added that recently Deputy Prime Minister Vuong Dinh Hue asked ministries and branches to consider the timing of increasing commodity prices to avoid affecting the macro economy, including gasoline and oil, so he thinks that in the new cycle, the executive agency will consider more carefully and lean towards the 50/50 option, meaning increasing prices by half and releasing the other half from the fund.

In the previous adjustment cycle, the Ministry of Industry and Trade - Ministry of Finance requested a reduction in gasoline prices by 81 VND per liter, to a maximum of 17,233 VND per liter; E5 gasoline also decreased by 67 VND, to 17,032 VND per liter. The operator also reduced oil products by 189-369 VND per liter, kg depending on the type.

After adjustment, the selling price of each liter of kerosene is no higher than VND11,988, diesel is VND13,469 and mazut is VND10,616 per kilogram. In addition to reducing retail prices, the operator also kept the same level of the Price Stabilization Fund for items in this operating period (VND300 per liter, kg). Meanwhile, the current level of use of the Price Stabilization Fund for gasoline is VND0 per liter.

According to VNE