Gasoline prices may drop sharply tomorrow

After a series of sharp increases, gasoline prices in this cycle have turned sharply downward, causing domestic prices tomorrow to possibly be adjusted downward.

May 5 will be the time when the regulatory agency will announce the adjustment of the base price of gasoline for the next 15-day cycle. According to the price data of finished products on the Singapore market announced by the Ministry of Industry and Trade, the average price of RON 92 gasoline is at 62.54 USD per barrel, down 5.3% compared to the previous cycle (66.1 USD per barrel).

Sharing with VnExpress, many petroleum wholesale businesses said that the world price of gasoline and oil last week reversed and decreased sharply, so the price of this product will go down in the upcoming adjustment period.

Gasoline prices may fall sharply tomorrow.

“In this adjustment period, if the operator maintains the price stabilization fund, the price of gasoline and oil will decrease by 700 VND per liter. On the contrary, if the management agency stops using the fund, the price will only decrease by about 300 VND per liter. To harmonize, I think the stabilization agency will stop using the fund to reduce it to a reasonable level for both businesses and consumers,” said the leader of a major gasoline and oil enterprise in Ho Chi Minh City.

In the previous adjustment period, due to the sharp increase in gasoline prices, the operator increased the price stabilization fund with RON 92 gasoline increasing to 414 VND per liter, E5 gasoline to 364 VND, diesel to 300 VND per liter; kerosene to 297 VND, and mazut to 304 VND per kilogram.

Accordingly, the common price of RON 92 gasoline is 17,583 VND per liter, E5 gasoline is 17,382 VND; diesel is no higher than 13,819 VND per liter; kerosene is 12,338 VND per liter and mazut is no higher than 10,966 VND per kilogram.

According to VNE