Based on world price developments, domestic gasoline prices may decrease by about 400-500 VND/liter, and oil prices may decrease by 500,000-600 VND/liter.

According to the domestic gasoline price management period, from the most recent price adjustment date (January 19, 2016), after the next 15 days (February 3, 2016), the management agency will announce the new base price for key enterprises to adjust retail prices according to the provisions of Decree 83/2014/ND-CP.

Gasoline prices are forecast to decrease from February 3 (Illustration: KT)

The reality of the world oil price movement in recent days shows that crude oil prices fluctuate continuously with a wider amplitude than last month and the main trend is downwards. Some leaders of major oil trading enterprises said that domestic oil retail prices continue to have the opportunity to be adjusted downwards in this cycle.

Today, the Ministry of Finance also announced that the balance of the Petroleum Price Stabilization Fund by the end of the fourth quarter and the whole year of 2015 was 3,970,063 billion VND. According to calculations by many experts, if the current level of the Petroleum Price Stabilization Fund is maintained, based on world price developments, domestic gasoline prices could decrease by about 400-500 VND/liter, and oil prices could decrease by 500,000-600 VND/liter.

Thus, if this forecast is correct, tomorrow will be the third consecutive time this year that gasoline prices will be adjusted down, and the eighth consecutive decrease since October 19, 2015.

The most recent price adjustment on the afternoon of January 19 saw retail gasoline prices decrease by VND580-590/liter, and oil prices decrease by VND301-912/liter (kg).

According to the latest statistics from the Global Petrol Prices website, despite many recent price adjustments, Vietnam's gasoline price is currently about 18% lower than the world average. The average Vietnamese gasoline price as of February 1, 2016 is 0.73 USD/liter, while the world's average gasoline price is currently 0.90 USD/liter.

Compared to some neighboring countries, gasoline prices in Vietnam are lower than in Thailand, China, Philippines, Laos, Cambodia.../.

According to VOV