According to regulations, May 1st is the scheduled date for adjusting domestic gasoline and diesel prices. However, due to it falling on a public holiday,gasoline pricesIt will be adjusted on May 4th.

Data from the Ministry of Industry and Trade, updated as of April 28th, shows that the price of refined gasoline in the Singapore market has tended to increase over the past period. RON 92 gasoline (used to blend E5 RON 92 gasoline) averaged $127.67 per barrel, while RON 95 gasoline was approximately $131.96 per barrel, an increase of 4-5% compared to the previous price adjustment cycle.

Speaking to reporters, a leader of a major petroleum distribution company in Ho Chi Minh City said that while world oil prices saw several drops last week, the average price of this product has still increased by the end of April. Specifically, both Brent and WTI crude oil prices increased during the week, rising by 1.3% and 4.4% respectively. Therefore, the price of refined petroleum products imported into the country has also increased significantly.

Each liter of gasoline could increase by 400-600 VND if the authorities do not draw from the Price Stabilization Fund.

"This operating period, if not usedStabilization Fund"Gasoline prices could increase by 400-600 VND per liter, and diesel prices by about 300-400 VND," said a leader of a petroleum distribution company in Ho Chi Minh City.

Conversely, this person also stated that if the Fund were utilized, gasoline prices could increase slightly by about 200-300 VND per liter.

Sharing the same view, a leading petroleum distributor in Hanoi believes that the global supply of petroleum products remains unfavorable. The reason is that countries are concerned about continued disruptions to Russian oil supplies due to the ongoing conflict in Ukraine. Therefore, in this price adjustment period, the regulatory agency may continue to increase gasoline prices for the second consecutive time after the decrease on April 12th.

On April 21st, gasoline prices increased by nearly 700 VND per liter, bringing E5 RON 92 gasoline to 27,130 VND and RON 95 to 27,990 VND per liter. Prices for other types of fuel increased by 800-970 VND per liter, with diesel reaching 25,350 VND per liter.