Gasoline prices are forecast to approach the threshold of 30,000 VND/liter.
In the operating period tomorrow (March 11), it is likely that gasoline prices may increase by more than VND2,000/liter and oil prices will also continue to increase by VND1,000 - 1,500/liter/kg.
The price of crude oil and finished petroleum products in the world market has continuously increased, affecting the price of finished petroleum products in the country and the source creation work of key enterprises.petroleum business.
As of March 9, the price of WTI crude oil on the world market has reached 125.68 USD/barrel; Brent oil is 130.53 USD/barrel and is still evolving complicatedly. The price of finished petroleum products has increased to 142-158 USD/barrel (March 7), an increase of 51-69 USD/barrel compared to the price in early January 2022.
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Data from the Ministry of Industry and Trade updated to March 8 also shows that in the Singapore market, RON92 gasoline is priced at nearly 150 USD/barrel (up 36 USD/barrel compared to March 1); RON95 gasoline is priced at 144.8 USD/barrel (up 28 USD/barrel). Kerosene is priced at 147.7 USD/barrel (up 34.5 USD/barrel); diesel oil is 157.6 USD/barrel (up 40 USD/barrel), mazut is 700 USD/ton (up 145 USD/ton).
From the above figures it can be seen that,world petroleum product priceshas increased by nearly 20% per liter in the past 10 days. Many petroleum businesses calculate that, with the increase in world petroleum prices, the price of imported petroleum to Vietnam after adding taxes and fees will increase by over 2,000 VND/liter; the price of petroleum products will also increase by 1,000 - 1,500 VND/liter/kg in the price adjustment period on March 11.
In the context that the BOG Fund for petroleum is running out (the BOG Fund balance is low, currently about 620 billion VND, the BOG Fund balance at many key petroleum trading enterprises is negative, it is likely that the Joint Ministry will make provisions and disburse the BOG Fund as in the most recent management period (March 1).The Ministry of Industry and Trade, in a recent reply to the Ministry of Finance, also stated that the current price of finished petroleum products on the world market will have a major impact on the price of finished petroleum products in the country, pushing domestic petroleum prices up to the adjustment period on March 11, possibly increasing by VND 5,000-8,000/liter/kg depending on the type (equivalent to an increase of 27-44%) compared to the price of petroleum in early 2022.
In the most recent adjustment period (March 1), the price of E5RON92 gasoline increased by VND545/liter to VND26,077/liter; the price of RON95-III gasoline increased by VND547/liter to VND26,834/liter. The price of diesel oil increased by VND509/liter and is sold at VND21,310/liter; the price of kerosene is no higher than VND19,978/liter (an increase of VND469/liter compared to the current retail price); 180CST 3.5S fuel oil increased by VND536/kg to VND18,468/kg.
Since the beginning of 2022, the Ministry of Industry and Trade - Ministry of Finance has adjusted domestic gasoline prices 5 times and all 5 times the gasoline prices have increased. Compared to the adjustment period on January 11, the price of E5RON92 gasoline has increased by nearly 2,918 VND/liter, RON95 gasoline has increased by 2,958 VND/liter, diesel oil has increased by 3,071 VND/liter.../.
