According to regulations, May 1 is the date for adjusting domestic gasoline prices. However, due to falling on a holiday,gasoline priceswill be adjusted on May 4.

Data from the Ministry of Industry and Trade updated to April 28 shows that the price of finished gasoline in the Singapore market has been on an upward trend in the past period. RON 92 gasoline (used to blend E5 RON 92 gasoline) has an average price of 127.67 USD per barrel, while RON 95 gasoline is about 131.96 USD per barrel, an increase of 4-5% compared to the previous operating cycle.

Sharing with reporters, the leader of a key enterprise in Ho Chi Minh City said that the world oil price had decreased several times last week, but by the end of April, the average price of this product still increased. Specifically, the price of Brent crude oil and WTI both increased during the week, up 1.3% and 4.4% respectively. Therefore, the price of finished petroleum products imported into the country also increased significantly.

Each liter of gasoline could increase by 400-600 VND if the operator does not deduct from the Price Stabilization Fund.

"This operating period, if not usedPrice stabilization fund, gasoline prices may increase by 400-600 VND per liter, oil prices increase by about 300-400 VND", said the leader of a petroleum hub in Ho Chi Minh City.

On the contrary, this person also said that if the Fund is used, gasoline prices may increase slightly by about 200-300 VND per liter.

Sharing the same view, the leader of the petroleum hub in Hanoi said that the world's petroleum supply is still not optimistic. The reason is that countries are worried that Russia's oil supply will continue to be interrupted due to the ongoing conflict in Ukraine. Therefore, this management period, the management agency can continue to increase gasoline prices for the second consecutive time after the decrease on April 12.

On April 21, each liter of gasoline increased by nearly 700 VND, bringing E5 RON 92 gasoline to 27,130 VND, RON 95 to 27,990 VND per liter. Oil prices increased by 800-970 VND per liter, of which diesel oil increased to 25,350 VND per liter.