Tomorrow (April 25) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.
Domestic gasoline prices are affected by world gasoline prices and the Singapore market.
On the world market, world oil prices dropped sharply last week when both benchmark oils, Brent oil and WTI oil, decreased by up to 3%.
This week, after falling in the first session of the week, world oil prices turned up slightly.
According to data from Oilprice, at 7:04 a.m. on April 24 (Vietnam time), Brent oil price was trading at 88.42 USD/barrel, an increase of 1.42 USD, equivalent to 1.63% compared to the previous session. before. WTI oil price was at 83.44 USD/barrel, an increase of 0.08 USD, equivalent to 0.1% compared to the previous session.
In the Singapore market, in the past period, the average price of finished gasoline in this market decreased compared to the previous period.
Based on developments in world gasoline prices, leaders of some petroleum businesses said that domestic gasoline prices at tomorrow’s operating period (April 25) may decrease according to world prices.
Petroleum businesses predict that if the executive agency does not impact the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices could decrease by 270-300 VND/liter. Diesel prices are likely to decrease by 750 VND/liter.
If the above forecast is correct, the price of RON 95 gasoline will lose the mark of 25,000 VND/liter.
In case the Ministry of Finance – Industry and Trade allocates the BOG Fund, gas prices may decrease less, or even not decrease.
From the beginning of the year until now, gasoline prices have increased 9 times, decreased 5 times, and mixed 2 times.
In the most recent gasoline price management period (April 17), retail prices of petroleum products were managed in the direction of increasing gasoline prices and decreasing oil prices (except fuel oil).
Specifically, the price of E5 gasoline increased by 380 VND/liter, the selling price is 24,220 VND/liter. RON 95 gasoline price increased by 410 VND/liter, the selling price increased to 25,230 VND/liter.
Meanwhile, diesel prices decreased by 170 VND/liter, down to 21,440 VND/liter. The price of kerosene decreased by 180 VND/liter, the selling price returned to 21,410 VND/liter.
Similar to previous periods, in this executive period, the Ministry of Finance – Industry and Trade does not appropriate nor spend the Stabilization Fund for most types of petroleum.
More petroleum businesses were sold by banks for debtA series of businesses operating in the petroleum sector were asked by banks to sell bad debts or collateral assets to recover bad debts. Recently, another business had a bank carry out procedures to auction assets.
