Gasoline prices tomorrow may be adjusted to decrease.
Domestic gasoline prices tomorrow (May 5) are expected to reverse after a session of increase. If the Price Stabilization Fund is not affected, gasoline prices may decrease by 130-480 VND/liter and diesel prices by 180-380 VND/liter.
In the international market, oil prices fell sharply this week, more than 8% for Brent oil and about 7.7% for WTI oil. The decline in world oil prices this week was 4 times the decline of last week.
Brent crude oil prices ended the week at $61.29/barrel, while WTI crude oil prices closed at $58.29/barrel.
In the domestic market, according to plan, the Ministry of Industry and Trade - Ministry of Finance will adjust retail gasoline prices tomorrow afternoon (Monday, May 5) because Thursday (May 1) is International Labor Day.
Some petroleum businesses believe that domestic gasoline prices in tomorrow's management period may be adjusted down following the trend of world gasoline prices.
Specifically, if the regulatory agency does not affect the Petroleum Price Stabilization Fund, domestic gasoline prices could decrease by about 130-480 VND/liter.
Similarly, diesel prices are likely to be adjusted down by VND180-380/liter.
In case the regulatory agency draws from the Price Stabilization Fund, gasoline prices may decrease less.
If forecasted, domestic RON 95 gasoline prices will reverse and decrease after being adjusted upward in the previous management period.
Currently, the price of this fuel is still at its lowest level in the past 4 years, equivalent to May 2021.
In the most recent adjustment period (April 24), RON 95 gasoline price was adjusted up by VND780/liter, retail price is VND19,630/liter.
While the price of E5 RON 92 gasoline increased by 740 VND/liter, the retail price increased to 19,230 VND/liter.
Diesel price increased by 490 VND/liter, retail price is 17,520 VND/liter.
