Gasoline prices may increase for the sixth consecutive time tomorrow
The price of finished products on the Singapore market fluctuates strongly, so each liter of E5 RON 92 gasoline can increase by 200-300 VND, continuing the upward trend for 6 consecutive periods.
Data ofMinistry of Industry and Tradeshows that the price of finished gasoline in the Singapore market, the reference for deciding the domestic price adjustment level, has fluctuated strongly in the past half month. In the last days of January, the price difference was not much compared to the previous period, but in the first week of February, it jumped.
The average retail price of 92 gasoline during this period was 60.96 USD per barrel, up 2.5% compared to the previous period. 95 gasoline also had a similar increase to 62.19 USD, and in some days early this month it reached nearly 65 USD per barrel. Kerosene and diesel fluctuated less, up to 59.42 USD and 60.8 USD per barrel, respectively.
The leader of a petroleum wholesale company in Ho Chi Minh City said that the fuel market is going up due to expectations that OPEC and allied countries will reduce production output in the context of the pandemic that has not yet subsided.
He estimated that each liter of gasoline in the adjustment period tomorrow (February 10) will increase by 200-300 VND, while oil will increase by about 140-150 VND, extending the increase streak of 6 consecutive adjustment periods.
"But there is also a possibility that prices will remain stable if the regulatory agency releases the price stabilization fund, keeping the same level as the previous period to serve people's needs during Tet," he said.
Last time,E5 RON 92 gasoline priceincreased by 361 VND to a maximum of 16,309 VND per liter. RON 95 increased by 340 VND, the highest price is 17,270 VND. Diesel is 13,042 VND (up 395 VND). Kerosene is 11,908 VND (up 350 VND). Madut oil increased by 350 VND, to a maximum of 12,622 VND per kg. If the stabilization fund is not continued to be spent, the price of gasoline and oil will increase by about 600-1,711 VND per liter.