Gasoline prices may drop further tomorrow

Normally, the next operating period will fall on April 11, but this date coincides with the holiday to make up for the death anniversary of Hung Vuong, so the adjustment period will be moved to April 12.

Data from the Ministry of Industry and Trade shows that the average price of finished gasoline on the Singapore market was updated to April 7 with RON92 at $121.02 a barrel, RON95 at $124.22 a barrel, down 5-7%. compared with the previous adjustment. Similarly, oil prices also fell around the level of less than 130 USD a barrel.

The leader of a petroleum wholesaler in Ho Chi Minh City said that the world oil price fell sharply last week thanks to positive information from the market. In which, oil supply increased again thanks to the decision of members of the International Energy Agency (IEA) to release an additional 60 million barrels of oil from the strategic reserve in the next 6 months. Along with that, 180 million barrels of oil released from the strategic oil reserve that the US pledged last week will help the market quench the “thirst”.

Therefore, in the adjustment period tomorrow, gasoline prices may decrease by 600-700 VND per liter. Conversely, if the operator uses the Price Stabilization Fund, the reduction will be around 300-400 VND per liter.

Sharing the same opinion, the leader of a petroleum business in Hanoi said that gasoline and oil prices will decrease but not much because the world has not yet escaped the risk of shortage. Therefore, in order to avoid an increase in shock in the following operating period, the management agency will deduct or use additional stabilization funds.

At the operating period of April 1, each liter of gasoline decreased by VND 1,030-1,040 while diesel increased by VND 1,450. Accordingly, the price of gasoline E5 RON 92 dropped to 27,300 dong, gasoline RON 95 was 28,150 dong. Also from April 1 to the end of the year, the retail price of gasoline in the country will be 50% reduction of environmental protection tax according to the Resolution of the Standing Committee of the National Assembly.

In the first 3 months of the year, gasoline prices have increased 6 times and decreased 2 times. However, according to calculations by the Ministry of Industry and Trade, the world price of finished petroleum products (the basis for calculating the base price) has increased by 33.7-38.9% since the beginning of the year, but the domestic retail price has increased lower. , at 9-11%.

Thi Ha