Gasoline prices may increase tomorrow
After a series of declines, world gasoline prices have increased, creating pressure to increase prices for tomorrow's adjustment period.
Data from the Ministry of Industry and Trade shows that the average price of finished gasoline in the Singapore market this cycle with RON 92 is 70 USD per barrel and RON 95 is 75.6 USD per barrel, up 2-3% compared to the previous cycle. In contrast to gasoline prices, oil prices decreased by 2%, to 75 USD per barrel.
Sharing with reporters, the leader of a petroleum hub in Ho Chi Minh City said that world gasoline prices are going up after a series of days of decline. Therefore, this management period, if the fund is not allocated or used, gasoline prices may increase by 200 - 400 VND per liter, while oil prices will decrease by 200 - 300 VND.
"On the contrary, if the operator draws and uses the fund, the gasoline price can be kept the same or reduced by 100-200 VND per liter. However, with the recent management moves, I think the authorities will not affect the gasoline price," said the director of a gasoline hub in Ho Chi Minh City.
At the operating period of October 31, the Ministry of Industry and Trade - Ministry of Finance adjusted the price of each liter of E5 RON 92 and RON 95 gasoline to decrease by 200 and 550 VND respectively; oil products also decreased by 121 - 299 VND per liter. After adjustment, the price of E5 RON 92 gasoline is no higher than 19,252 VND per liter, RON 95 gasoline 20,445 VND; diesel 16,057 VND; kerosene 15,137 VND and mazut 12,517 VND per kg.
Authorities said that along with the price adjustment, the deduction level for the Petroleum Price Stabilization Fund also changed, with E5 RON 92 gasoline being 100 VND and RON 95 gasoline being 300 VND. The fund release level for oil products is 100 - 700 VND per liter or kilogram. Meanwhile, the management agency did not use the Stabilization Fund in this operating period.
