Domestic gasoline prices will continue to decrease
World oil prices have been on a downward trend in recent days, so it is likely that domestic oil prices will also be adjusted downwards during the September 12 adjustment period.
According to schedulepetrol price managementThe next price adjustment period will be carried out by the Ministry of Industry and Trade - Ministry of Finance on September 11, however, due to the holiday (Sunday), the price change will be carried out this afternoon (September 12).
Monitoring the world oil market over the past 10 days shows that,Crude oil pricecontinued to decline for the second consecutive week as central banks raised interest rates sharply. Brent crude oil prices have now fallen to over $89/barrel, marking the lowest level in more than 6 months. Meanwhile, WTI crude oil prices have fallen to over $83/barrel. Brent crude oil prices for November delivery are at $92.84/barrel; WTI crude oil is at $86.79/barrel.
Data from the Ministry of Industry and Trade as of September 8 also showed 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 DO oil was 129 USD/barrel.
 |
| Gasoline prices are expected to decrease from September 12. |
With the above data, according to calculations by petroleum trading and distribution enterprises, the price of imported RON92 gasoline is about 900 VND/liter higher than the domestic retail price, RON95 gasoline is about 1,000 VND/liter higher and DO oil is about 1,200 VND/liter higher.
Therefore, it is likely that in this price adjustment period, domestic gasoline prices will be adjusted down. The price reduction for gasoline products will be around VND900/liter and more than VND1,000/liter for some oil products, depending on the level of provision and expenditure of the BOG Fund of the management agency.
At the most recent operating session (September 5),E5RON92 gasoline pricedown 370 VND/liter to 23,350 VND/liter; RON95-III gasoline price down 430 VND/liter to 24,230 VND/liter. Meanwhile, diesel price increased 1,430 VND/liter to 25,180 VND/liter; Kerosene increased 1,390 VND/liter to a new price of 25,440 VND/liter. Mazut oil alone is priced at 16,079 VND/kg after being adjusted down 470 VND/liter. The management agency has decided to set aside 451-493 VND for each liter of gasoline into the fund. DO oil and kerosene only use the Stabilization Fund from 100-300 VND/liter.
Since the beginning of the year, domestic petroleum products have undergone 23 price adjustments. Of these, gasoline prices have increased 13 times, decreased 9 times and remained unchanged once. Oil prices have increased 15 times, decreased 7 times and remained unchanged once./.
