Gasoline prices under pressure to increase

If the price stabilization fund is not used more, retail gasoline prices may increase by 100-300 VND in the adjustment period on September 20, according to calculations by key enterprises.

Tomorrow (September 20) will be the time to announce the adjustment of gasoline prices for the new cycle. The price list of finished products in the Singapore market updated by the Ministry of Industry and Trade shows that the average price of RON 92 gasoline for this cycle is about 55.6 USD per barrel, an increase of 1.6% compared to the previous cycle (54.7 USD per barrel). At one point, the price of gasoline increased sharply to 57 USD per barrel.

The new change in the way excise tax is calculated makes each liter of gasoline 200 VND more expensive than before.

Many key businesses in Ho Chi Minh City said that in the middle of August, gasoline prices increased sharply, then showed signs of cooling down in recent days. Gasoline prices in the new adjustment cycle, accordingly, are still facing pressure to increase by about 100-300 VND.However, this is still not a large enough level to cover if the regulatory agency allows an increase in the use of the price stabilization fund (currently at 300 VND per liter), so the option of not adjusting the price is still likely to happen. On the contrary, the priceOil prices are likely to fall by about 100-200 VND per liter.

Previously, gasoline prices were adjusted up for the third consecutive time on September 5, after four price reductions since June 2016. Each liter of RON 92 is commonly sold at 16,070 VND. E5 gasoline also increased by 611 VND, to the highest level of 15,836 VND per liter. Diesel oil increased to a maximum of 12,388 VND per liter; kerosene increased by 489 VND per liter to a maximum of 10,985 VND per liter.

According to VNE