Gasoline prices will increase sharply tomorrow (February 11)
According to the main enterprise, in the next management period, each liter of gasoline will increase by more than 1,000 VND as import prices have continuously increased recently.
After the Lunar New Year holiday, gasoline and oil prices will be adjusted on February 11.
Data ofMinistry of Industry and TradeUpdated as of February 7, the average price of RON 92 gasoline is 101.8 USD per barrel, and the price of RON 95 gasoline is 104.13 USD per barrel. This level increased by 7% compared to the previous adjustment period.
Share withPV, the leader of a major petroleum business in Ho Chi Minh City said that the increasing global demand for gasoline and oil, the Russia-Ukraine tension, and supply disruptions from producers like Libya have caused this product to show no signs of cooling down.
"In this adjustment period, gasoline prices may be adjusted to around 1,000 - 1,200 VND per liter. Oil prices may increase to around 800 - 900 VND per liter," said a leader in Ho Chi Minh City.
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According to this person, the previous operating period fell on the occasion of the holidays and Tet, so the authorities did not adjust prices, causing import businesses to suffer losses. Therefore, this period forced the operator to consider increasing prices.
Like-minded, leaderpetrol hubin Hanoi said that when import prices climb above 100 USD per barrel, if the operator holds back retail prices, domestic supply will be difficult to stabilize.
In another option, if the authorities are still determined not to let gasoline and oil prices increase, they can use the price stabilization fund and increase prices by 600 - 700 VND per liter.
If this forecast is correct, this will be the third consecutive increase in gasoline prices since the beginning of this year.
In the operating period on January 21, 2022, each liter of E5 RON 92 gasoline increased by 440 VND to 23,590 VND, RON 95 increased by 490 VND to 24,360 VND per liter.
Prices of all oil products increased. Kerosene is 17,790 VND per liter, up 660 VND. Diesel is 18,900 VND per liter, up 670 VND. Madut is 16,990 VND per kilogram, up 630 VND./.
