Gasoline and oil prices may increase further tomorrow
World gasoline prices are rising sharply to over 78 USD per barrel, so tomorrow's adjustment period may slightly increase domestic gasoline prices.
Updated data ofMinistry of Industry and TradeAs of May 6, the average price of finished gasoline on the Singapore market for 15 days with RON 92 (the type used to blend E5 RON 92 gasoline) at 74.74 USD, RON 95 gasoline averaged 76.84 USD per barrel, up 3-4% compared to the previous period.
Regarding oil prices, the average price of each barrel of kerosene over the past 15 days has been at 70-72 USD per barrel, 3 USD higher than the previous management period.
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| People buy gasoline at Cau Giay gas station (Hanoi). Photo: Ngoc Thanh |
Sharing with PV, a business leaderPetroleum businessin Ho Chi Minh City said that if the operator does not use the Price Stabilization Fund in the petrol and oil management session tomorrow (May 12), the retail price of petrol and oil is forecasted to increase by 100-300 VND per liter or kilogram depending on the type. On the contrary, if the management agency reduces or increases the expenditure of the Price Stabilization Fund, the price level can be maintained.
Sharing the same view, the leader of Hanoi petroleum said that the price fluctuates little so the management agency may adjust it to balance supply and demand and the market. Accordingly, E5 RON 92 gasoline will increase by about 200 VND, while oil and RON 95 may increase by up to 300 VND.
In the adjustment period on April 27, each liter of E5 RON 92 gasoline increased by 180 VND, RON 95 increased by 190 VND and oil increased by 180-340 VND per liter, kg depending on the type.
Accordingly, the highest price of E5 RON 92 gasoline is 17,980 VND per liter, an increase of 180 VND; RON 95 is 19,160 VND per liter, an increase of 190 VND. Kerosene is 13,250 VND per liter. Diesel is 14,320 VND per liter, and mazut is 14,020 VND per kilogram, an increase of 340 VND.
