Gasoline prices may increase tomorrow, May 13
World gasoline prices have recovered over the past 15 days, at times reaching $29.46 a barrel, which could cause domestic prices of this commodity to increase in tomorrow's adjustment period.
Data from the Ministry of Industry and Trade shows that the average price of finished gasoline on the Singapore market updated to May 6 for RON 92 was at $23.12 per barrel, and for RON 95 at $24.58 per barrel, both up 25% compared to the previous period. Oil prices alone have not fluctuated much but have also increased in the past 10 days.
The leader of a major petroleum company in Ho Chi Minh City said that world oil prices quickly recovered in the first 10 days of the new cycle. However, the last 4 days have gone down and some days have decreased. Therefore, in the new management period, the management agency may adjust the price of petroleum up but it will not be too "shocking". If it increases, this will be the first increase after 8 periods of continuous gasoline price decrease since the beginning of the year.
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| The world gasoline price has recovered over the past 15 days, so this domestic product may increase in the operating period tomorrow. |
"According to the average import price and the addition and subtraction of taxes and fees, the price of gasoline and oil could increase by 800-1,300 VND per liter. If the management agency both draws or spends the price stabilization fund and increases the price, gasoline will decrease by 300-600 VND per liter," said a leader of a key business in Ho Chi Minh City.
Meanwhile, business managers in Binh Duong said that the Petroleum Stabilization Fund still has a lot of money, so if the operator releases the fund strongly (releases 100%), the price of gasoline and oil will remain the same.
In the adjustment period on April 28, each liter of gasoline decreased by 308-401 VND, while other types of oil decreased by 674-882 VND per liter and kilogram. After adjustment, E5 RON 92 gasoline is at a maximum of 10,942 VND per liter; RON 95 is at 11,631 VND; diesel is no higher than 9,941 VND; kerosene is at 7,965 VND and mazut is at a maximum of 8,670 VND per kilogram.
Along with the price reduction, the operator continues to deduct 400 VND from the Price Stabilization Fund for each liter of E5 RON 92 gasoline; 1,400 VND for RON 95. Kerosene and diesel have a fund deduction of 1,600 VND per liter and mazut oil 500 VND per kilogram.
