Gasoline price will decrease after 7 increases?
Due to the decline in world gasoline prices last week, domestic gasoline and oil prices in the price adjustment session tomorrow (March 21) may decrease by 1,500-2,500 VND/liter. If the forecast is true, this will be the first decrease after seven consecutive increases in gasoline prices.
Data from the Ministry of Industry and Trade shows that, gas price Finished products on the Singapore market updated to March 17 decreased significantly compared to the previous price calculation period (March 11).
Accordingly, the average price of RON 92 gasoline used to prepare E5 RON 92 gasoline was $120.29/barrel, the previous cycle was $133.83/barrel. And the price of gasoline RON 95 is 124.14 USD/barrel, the previous period was 135.5 USD/barrel. Thus, the price of RON 92 and RON 95 gasoline in this cycle decreased by 9-12% compared to the previous cycle.
Similarly, the oil price on the Singapore market updated to March 17 also tended to decrease sharply compared to the previous price calculation period. Diesel oil prices reached 111 USD/barrel at many times (while in the previous period, there was a time when it jumped to 176 USD/barrel).
On the world market, crude oil prices recorded a second consecutive week of decline. During the week, oil price had 3 consecutive declining sessions. At the end of the week, both Brent and WTI oils recorded a drop of about 4%.
|Gasoline prices may drop tomorrow.|
World oil prices fell in the context of positive signs in the Russia-Ukraine negotiations and concerns that the Covid-19 situation in China could reduce demand.
Leaders of a number of key enterprises in Hanoi said that because the world gasoline price tends to decrease, the domestic gasoline price in the price adjustment session tomorrow (March 21) will also decrease according to the world gasoline price. .
Accordingly, in the price adjustment period tomorrow (March 21), gasoline prices may decrease by 1,100-1,500 VND/liter. Similarly, oil price will decrease by about 1,900-2,500 VND/liter.
However, the specific reduction in the adjustment period on March 21 needs to be further calculated and also depends on the setting up of the petrol price stabilization fund (BOG) of the operating agency. If using BOG Fund, gasoline and oil prices will fall higher.
In order to control gasoline prices, the Ministry of Finance proposed to reduce the level environmental Protection tax for gasoline is 2,000 VND/liter; diesel, fuel oil, lubricating oil is 1,000 VND/liter; grease is 1,000 VND/kg; kerosene is 700 VND/liter. At the same time, the Ministry of Finance proposed that the Resolution take effect from April 1, 2022 to the end of December 31, 2022.
If the forecast is correct, this will be the first decrease in gasoline prices after 7 consecutive price increases.
In the most recent petrol and oil price management period (March 11), the Ministry of Industry and Trade – Finance decided to increase gasoline and oil prices. Accordingly, the price of gasoline E5 RON92 increased by 2,908 VND/liter, the selling price was not higher than 28,985 VND/liter; RON95-III gasoline increased by 2,990 VND/liter, the selling price was not higher than 29,824 VND/liter.
Oil prices also increased. Kerosene increased by 3,940 dong per liter, the selling price was not more than 23,918 dong per liter. Diesel oil increased by 3,958 dong per liter, the selling price was not higher than 25,268 dong per liter.
at Blogtuan.info – Source: vietnamnet.vn – Read the original article here