Gasoline prices may increase sharply today

According to key businesses, gasoline prices will increase by about 500-600 VND per liter if the management agency does not use the stabilization fund.

Today (December 5) will be the time to adjust gasoline prices of the new cycle.According to the price data of finished products in the Singapore market published by the Ministry of Industry and Trade, the average price of RON 92 gasoline is at 58 USD per barrel, up 5.4% compared to the previous cycle (55 USD per barrel). Notably, in recent days, gasoline prices have increased to nearly 60 USD per barrel.

Many key businesses in Ho Chi Minh City said that in recent days, world gasoline prices have continued to increase, so in the new adjustment cycle, gasoline will face strong pressure to increase prices.

Gasoline prices may increase sharply tomorrow following world prices.

Leaders of two key enterprises in Ho Chi Minh City said that the management agency can combine the measures of using the stabilization fund and increasing prices. In this case, the gasoline price may only increase by around 200-400 VND per liter and the oil price will also be adjusted to increase by a similar amount.

“In addition, if the management agency does not use the price stabilization fund, the gasoline price may increase by 500-600 VND per liter. This is also an adjustment period that may cause the retail price to return to the level of the adjustment period in early November,” said a leader of a key enterprise in Thu Duc.

In the previous adjustment period, the base price per liter of RON 92 gasoline was required to decrease by VND521, making the retail price no higher than VND16,371. E5 gasoline decreased by VND355, down to a maximum of VND16,221 per liter. Diesel oil price also decreased by VND514, while kerosene and mazut decreased by VND578 and VND373 per liter and kilogram, respectively.

Since the beginning of the year, this item has undergone 21 adjustments, with 11 increases and 10 decreases.

According to VNE