Prices of gasoline, gold, coffee, etc., are forecast to rise simultaneously.

Gasoline and diesel prices are forecast to rise today, in line with global trends.

Today (May 22nd), global fuel prices are showing signs of recovery. Domestic fuel prices are forecast to increase slightly in line with global prices during this afternoon's adjustment period.

In the domestic market, the prices of gasoline and diesel fuel will be applied according to the new rates starting this afternoon (May 22nd).

Leaders of several major petroleum distribution companies said that domestic retail gasoline and diesel prices are likely to rise in today's price adjustment period, following world oil prices.

Gasoline and diesel prices are forecast to rise today, in line with global trends.

According to forecasts, if the regulatory agency does not intervene in the Fuel Price Stabilization Fund, gasoline prices could increase by 350-410 VND/liter, while diesel prices may increase less. If the above forecast is accurate, domestic gasoline prices will see their first increase today after three consecutive decreases.

Since the beginning of the year, gasoline prices have undergone 14 adjustments, including 7 increases, 6 decreases, and 1 time remaining unchanged.

In the most recent price adjustment (May 11th), the Ministry of Finance and the Ministry of Industry and Trade jointly reduced fuel prices. Specifically, the price of RON 95 gasoline decreased by 1,320 VND/liter, to 21,000 VND/liter. The price of E5 gasoline decreased by 1,300 VND/liter, to 20,130 VND/liter. The price of diesel decreased by 600 VND/liter, to 17,650 VND/liter. The price of kerosene decreased by 550 VND/liter, to 17,970 VND/liter.

On the world market, gasoline and oil prices today (May 22nd) are trending upwards, continuing the upward trend from last week.

Last week, world oil prices reversed course and rose after four consecutive weeks of declines. In the week's five trading sessions, oil prices increased in two sessions and slightly decreased in three. Although there were more declining sessions than rising ones, the faster rate of increase pushed oil prices higher. Oil prices last week were influenced by developments surrounding negotiations to raise the US debt ceiling and tightening oil supply. In the first trading session of the week, the prices of the two most popular types of oil in the world rose by more than 1% due to concerns about tight supply and the prospect of increased demand.

World gold prices are expected to rise back to the $2,000 mark.

Today (May 22), domestic gold prices remain stable, with JSC gold currently at 67.40 million VND/ounce (selling price). Meanwhile, world gold prices are stable at the end of the week, currently at 1977 USD.

At the time of the survey at 5:00 AM on May 22nd, on the trading floor of Saigon Jewelry Company (SJC), SJC gold was priced at 66.70 million VND/ounce for buying and 67.40 million VND/ounce for selling.

Meanwhile, at Phu Quy Gold and Gemstone Company, the listed price of SJC gold at the time of the survey was 66.65 - 67.25 million VND/ounce (buying price - selling price).

DOJI lists the price of 9999 gold at 66.65 million VND/ounce for buying and 67.20 million VND/ounce for selling.

Vietinbank Gold is currently listed at 66.65 million VND/ounce for buying and 67.27 million VND/ounce for selling.

At Bao Tin Minh Chau Co., Ltd., the price of SJC gold is also traded at 66.72 - 67.23 million VND/ounce (buying price - selling price). Bao Tin Minh Chau's listed price for 24K Thang Long Dragon gold is 56.18 - 57.13 million VND/ounce.

Global gold prices are expected to rise back to the $2,000 mark.

According to Kitco, the spot price of gold in the world market at 5:00 AM Vietnam time today was $1,977.895 per ounce. Converted using the current exchange rate at Vietcombank, the world gold price is approximately VND 56.15 million per tael (excluding taxes and fees). Thus, the price of SJC gold bars is still VND 11.25 million per tael higher than the international gold price. Meanwhile, US gold futures rose 1.1%, reaching $1,981.60.

Coffee prices have surged compared to last week.

Today's (May 22nd) domestic coffee prices range from 59,200 to 59,700 VND/kg, reaching a record high in recent years. World coffee prices have also risen sharply.

Specifically, coffee prices in Lam Dong province were purchased at 59,200 VND/kg; in Gia Lai province at 59,500 VND/kg, in Dak Lak province at 59,600 VND/kg, and the highest price was in Dak Nong province at 59,700 VND/kg.

Compared to the same period last week, coffee prices in the domestic market have surged dramatically by nearly 5,000 VND/kg. This is also a record high for Robusta coffee in recent years (after accounting for inflation).

On international trading platforms, Robusta and Arabica coffee prices also had a "booming" week. Most notably, Robusta coffee prices on the London exchange (UK) increased by more than $150/ton at the end of last week compared to the beginning of the week. As a result, world coffee trading started this week on a good price foundation.

Currently, domestic coffee prices range from 59,200 to 59,700 VND/kg, reaching a record high in recent years.

According to experts, the sharp increase in Robusta coffee prices for the July 2023 delivery contract is due to concerns about a short-term shortage of Robusta supply. This is also clearly reflected in Vietnam's coffee exports – the world's largest exporter of Robusta coffee. Specifically, according to preliminary export reports published by the General Department of Vietnam Customs, from May 1st to May 15th, Vietnam exported over 62,532 tons. Cumulatively from the beginning of 2023 to May 15th, Vietnam exported 778,986 tons of coffee, a decrease of 2.53% compared to the same period in 2022.

Experts are also concerned that the shortage of Robusta coffee supply will not only be short-term but could also be long-term due to increasingly stringent coffee import standards in Europe.

Pepper prices saw a slight decrease over the week.

Today's pepper prices (May 22nd) remain at the same level as yesterday's in both the Southeast and Central Highlands regions.

Specifically, in Ba Ria Vung Tau, today's pepper price is being purchased by traders at 76,000 VND/kg, the same as yesterday. In Binh Phuoc, today's pepper price remains at 75,500 VND/kg, also the same as yesterday, May 21st.

In the Central Highlands region, today's pepper prices remain stable, with traders purchasing at an average of 73,000 - 74,500 VND/kg.

In Gia Lai, the purchase price is 73,000 VND/kg, the same as yesterday (May 21). In Dak Lak and Dak Nong provinces, the price of pepper today remains stable at 74,500 VND/kg, also staying unchanged.

Overall, over the past week, pepper prices in the Southeast and Central Highlands regions maintained a slight downward trend in the early days of the week, then stabilized towards the end. Currently, domestic pepper prices fluctuate around 73,500 - 76,000 VND/kg.

On the world market, at the close of the most recent trading session, the International Pepper Community (IPC) listed price increases for Indonesian pepper. Specifically, Lampung black pepper (Indonesia) closed at US$3,628/ton, up 0.03%; Muntok white pepper at US$6,171/ton, up 0.02%. For other countries, pepper prices remained stable. Specifically, Brazilian black pepper ASTA 570 was at US$2,950/ton; Kuching black pepper (Malaysia) ASTA remained at US$4,900/ton; and Malaysian white pepper ASTA remained at US$7,300/ton.