Gasoline increased sharply after 3 times of price reduction

Specifically, gasoline E5 RON 92 increased by 660 VND/liter; RON 95 gasoline increased by 680 VND/liter, diesel oil increased by 970 VND/liter, kerosene increased by 800 VND/liter, fuel oil increased by 880 VND/kg.

After adjustment, E5 RON 92 gasoline has a maximum selling price of 27,130 VND/liter; RON 95 is 27,990 VND/liter; diesel oil is 25,350 VND/liter, kerosene 23,820 VND/liter, fuel oil is 21,800 VND/kg.

Along with that, the Inter-Ministry also decided to spend the stabilization fund gas price oil for fuel oil is 250 VND/kg, provision for gasoline RON 95 is 500 VND/liter, E5 RON 92 is 400 VND/liter, diesel and kerosene is 100 VND/liter.

Generally, in the first 4 months of the year, gasoline prices have increased 7 times and decreased 3 times. Previously, at the price adjustment period on April 12, E5 RON 92 gasoline decreased by 830 VND/liter; RON 95 gasoline decreased by 840 VND / liter, diesel oil decreased by 700 VND / liter, kerosene decreased 740 VND / liter, the price of fuel oil remained unchanged.

This is the 3rd time in a row that domestic gasoline prices have fallen.

In the world market, oil prices have many unpredictable fluctuations. According to Trading Economics data on February 20 (Vietnam time), the price of WTI oil sometimes dropped from a high of 109 USD/barrel (February 19) to $102/barrel, then rebounded to 103. 6 USD/barrel.

Currently, the price of Brent oil is trading at 108.25 USD/barrel and WTI oil is at 103.5 USD/barrel.

“Oil prices will still fluctuate strongly because the market often overreacts to information. I believe that Brent oil price will be maintained in the range of 100-120 USD/barrel, while WTI oil price fluctuates around 95-115 USD/barrel.“, said Jeffrey Halley, senior market analyst at Asia Pacific OANDA (based in Singapore).

According to the Fatherland