Gasoline prices may drop on Monday

After a series of strong increases, world gasoline prices have begun to reverse and decrease, which could cause the price of this commodity to be adjusted down in the new cycle.

March 6 will be the day of the next cycle of gasoline price adjustment. According to the data on finished product prices in the Singapore market published by the Ministry of Industry and Trade, the average price of RON 92 gasoline is at 66.28 USD per barrel, down 2.6% compared to the previous cycle (68.065 USD per barrel).

World gasoline prices are turning downward.

Sharing with VnExpress, many petroleum trading enterprises said that world gasoline prices have turned down after a series of days of strong increases, so tomorrow's adjustment period may see domestic prices of this commodity adjusted.

“There are two cases that can happen in this cycle. Specifically, if the management agency keeps the fund deduction level the same as the previous adjustment period, the gasoline price may be adjusted down by 300-400 VND per liter. On the contrary, if the management agency stops using the fund, the gasoline price may remain unchanged,” said the leader of a petroleum wholesale business in Ho Chi Minh City.

In the previous adjustment period, the Ministry of Finance - Ministry of Industry and Trade decided to increase gasoline and oil prices, while reducing the disbursement of the Price Stabilization Fund compared to the previous adjustment period for mineral gasoline and bio-fuel. Specifically, the disbursement of the Price Stabilization Fund for RON 92 gasoline decreased by VND269, to VND300 per liter; E5 gasoline also decreased to VND300 per liter compared to the disbursement of VND577 per liter in the adjustment period 30 days ago. Accordingly, the price of RON 92 gasoline increased by VND504 per liter, E5 gasoline increased by VND496 per liter. Oil products also increased by VND117-283 per liter, kg depending on the product.

Since the beginning of the year, through 4 management periods, 3 of them the management agency requested to maintain domestic retail gasoline prices, but only adjusted oil products and used price stabilization tools.

According to VNE