Domestic fuel prices will continue to fall.
World oil prices have been trending downwards in recent days, so it is highly likely that domestic fuel prices will also be adjusted downwards in the price adjustment period on September 12th.
According to schedulemanaging gasoline and diesel pricesThe next price adjustment, to be carried out by the Ministry of Industry and Trade and the Ministry of Finance, was scheduled for September 11th. However, since it falls on a Sunday, the price changes will be implemented this afternoon (September 12th).
Monitoring the global oil market over the past 10 days shows that,crude oil pricesPrices continued their second consecutive week of decline due to central banks sharply raising interest rates. Brent crude has now fallen to just over $89 per barrel, marking its lowest level in over six months. Meanwhile, WTI crude has dropped to just over $83 per barrel. November Brent crude futures are currently at $92.84 per barrel; WTI crude is at $86.79 per barrel.
Data from the Ministry of Industry and Trade as of September 8th also shows that the price of RON92 gasoline in the Singapore market decreased to 91.11 USD/barrel, RON95 gasoline decreased to 98.83 USD/barrel, and diesel oil was 129 USD/barrel.
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| Fuel prices are expected to decrease starting September 12th. |
Based on the above data, according to calculations by major petroleum distribution businesses, the price of imported RON92 gasoline is currently about 900 VND/liter higher than the domestic retail price, RON95 gasoline is about 1,000 VND/liter higher, and diesel is about 1,200 VND/liter higher.
Therefore, it is highly likely that domestic gasoline and diesel prices will be adjusted downwards in this price adjustment period. The price reduction for gasoline is expected to be around 900 VND/liter, and over 1,000 VND/liter for some diesel products, depending on the level of contributions to and expenditures from the Price Stabilization Fund by the regulatory agency.
At the most recent price adjustment (September 5th),price of E5RON92 gasolineGasoline prices decreased by 370 VND/liter to 23,350 VND/liter; RON95-III gasoline prices decreased by 430 VND/liter to 24,230 VND/liter. Meanwhile, diesel prices increased by 1,430 VND/liter to 25,180 VND/liter; kerosene increased by 1,390 VND/liter to a new price of 25,440 VND/liter. Mazut oil prices are 16,079 VND/kg after a decrease of 470 VND/liter. The regulatory agency decided to allocate 451-493 VND per liter of gasoline to the Fuel Price Stabilization Fund. Diesel and kerosene prices utilize 100-300 VND/liter from the Stabilization Fund.
Since the beginning of the year, domestic petroleum prices have undergone 23 adjustments. Specifically, gasoline prices have increased 13 times, decreased 9 times, and remained unchanged once. Diesel prices have increased 15 times, decreased 7 times, and remained unchanged once.
