Domestic gasoline prices tomorrow are likely to reverse and decrease.
Domestic retail gasoline prices at the adjustment session tomorrow (April 21) are forecast to reverse downwards following the trend of world gasoline prices. Gasoline prices are likely to fall by 220-450 VND/liter, while oil prices may fall by 100-380 VND/liter.
Tomorrow afternoon (April 21), the Ministry of Finance and Industry and Trade will adjust retail gasoline prices every 10 days.
Currently, the Ministry of Industry and Trade's petroleum information transparency page does not display updated world price data from last week.
Meanwhile, in the world market, crude oil prices have been fluctuating recently but are showing signs of a sharp decline. Oil prices have fallen due to investors’ concerns about the possibility of an interest rate hike by the US Federal Reserve (Fed) as well as the uncertain outlook for the global economy.
At 8:03 a.m. on April 20 (Vietnam time), Brent oil price was trading at 82.72 USD/barrel and WTI oil price fell to 78.8 USD/barrel.
The development of imported gasoline prices and world oil prices will affect the domestic gasoline price adjustment period taking place tomorrow.
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Domestic gasoline prices are likely to decrease slightly tomorrow. Photo: Nguyen Hue |
Leaders of some key petroleum trading enterprises forecast that in the operating period on April 21, domestic retail gasoline prices are likely to decrease slightly following the trend of world gasoline prices.
If the management agency does not affect the Petroleum Price Stabilization Fund, the domestic retail gasoline price on the afternoon of April 21 may be adjusted down by 220-450 VND/liter. The oil price will decrease by 100-380 VND/liter.
If the above forecast is correct, domestic gasoline prices will reverse tomorrow after two consecutive increases.
Since the beginning of the year, gasoline prices have undergone 10 adjustments, including 6 increases, 3 decreases and 1 unchanged.
In the most recent adjustment period (April 11), the prices of petroleum products were adjusted up.
Accordingly, the price of E5 RON 92 gasoline increased by VND1,090/liter, the selling price was VND23,170/liter. RON 95 gasoline increased by VND1,120/liter, the selling price was VND24,240/liter. Diesel price increased by VND710/liter, the selling price was not higher than VND20,140/liter. Kerosene price increased by VND700/liter, the selling price was VND19,730/liter.
In this operating period, the operator continues not to spend from the Petroleum Price Stabilization Fund; at the same time, the Fund is set aside for E5 gasoline at 150 VND/liter, RON95 gasoline at 300 VND/liter, diesel at 300 VND/liter, and kerosene at 300 VND/liter.