How much will the retail price of gasoline increase tomorrow?

Petrol price today 3/5: Oil prices continue to rise on supply concerns

On the world market, Crude oil prices continued to increase slightly in this morning session (May 3), thanks to the momentum in the diesel market and concerns that supply could be disrupted by a potential EU ban on Russian crude oil.

The price of US WTI light sweet crude oil increased by 0.2% to 105.33 USD/barrel at 7:04 am (Vietnam time) on May 3. While Crude oil prices Brent for July delivery rose 0.18% to $107.77 a barrel.

Previously, crude oil closed in the green after a strong shaking session. Specifically, WTI oil price increased 0.46% to 105.17 USD/barrel while Brent oil increased 0.41% to 107.58 USD/barrel.

WTI oil price once fell by nearly 5 USD/barrel in the session before the negative information from China. China’s Manufacturing PMI came in at 41.9, the lowest level in two years, representing a slowdown in the country’s manufacturing activities.

The cause is said to be a series of blockade and restriction measures in big cities such as Shanghai and Changchun, causing factories and industrial centers to shut down, dragging down economic activities. . This will be a factor leading to a decline in China’s oil demand in the near future, especially when the “Zero-Covid” policy is still being continued.

The news that the European Union could exempt Hungary and Slovakia from the group’s policy of embargo on oil imports from Russia also put pressure on the market, due to concerns that the amendments in this policy could make it difficult for them to import oil from Russia. Russia’s oil supply do not decrease too much. The EU currently imports about 2.4 million barrels of oil per day from Russia.

Crude oil only recovered in the evening thanks to bottom-fishing force, after the price of WTI oil was close to the threshold of USD 100/barrel. Besides, according to a Reuters survey, OPEC’s crude oil production in April only increased by 40,000 bpd to 28.58 million bpd, compared with the set quota of 254,000 bpd.

Production problems in Nigeria and Libya led to a sharp drop in oil production by countries in North Africa, raising the group’s compliance rate by 13% to 164%, despite the increase in Saudi Arabia’s increase. crude oil production. A decline in the productive capacity of the whole group may exacerbate instability in the economy oil supply of the world, besides the word problem Russia.

Domestically, according to the petroleum enterprise Retail price of gasoline and diesel oil will increase tomorrow (May 4), while kerosene and fuel oil will decrease slightly.

Data from the Ministry of Industry and Trade showed that the average price of finished gasoline on the Singapore market as of April 28 increased slightly. Specifically, the price of RON92 gasoline (used to make E5RON 92 gasoline) is 127.56 USD/barrel, RON95 is 131.78 USD/barrel while gas price pre-adjusted period average is 124,477 USD/barrel with RON 92 gasoline and 127,500 USD/barrel gasoline RON95.

In the adjustment period tomorrow (May 4), gasoline prices are expected to continue to increase following the world’s rising momentum. According to the calculations of businesses, the retail price in this adjustment period, if not calculating the setting up and using the stabilization fund, A95-III gasoline increased by 540 VND/liter, E5 RON92 gasoline increased by 380 VND/liter, and diesel oil increased by 380 VND/liter. 190 VND/liter, kerosene 500 VND/liter…

A petroleum business said that the domestic price of finished gasoline is currently 500-600 dong higher than the reference price in the Singapore market, if the inter-ministerial department does not set up a stabilization fund, the increase will be equivalent. For diesel, the adjustment is less, about 200 VND/liter.

If the prediction is correct, domestic gasoline price increased for the second time in a row. Generally, in the first 4 months of the year, gasoline prices have increased 7 times and decreased 3 times.

At the latest operating period from 3pm on April 21, the domestic gasoline price has increased sharply again, with the level from 663 to 675 VND/liter, depending on the type. And per liter of diesel oil increased by 970 VND/liter, kerosene increased by 800 VND/liter, fuel oil increased by 880 VND/kg.

Petrol price today 3/5: E5RON92 gasoline is not higher than 27,134 VND/liter (an increase of 663 VND/liter compared to the current retail price), 858 VND/liter lower than RON95-III gasoline; RON95-III gasoline is not higher than 27,992 VND/liter (an increase of 675 VND/liter compared to the current retail price); 0.05S diesel oil is not higher than 25,359 VND/liter (increasing by 979 VND/liter compared to the current retail price); kerosene is not higher than 23,828 VND/liter (an increase of 801 VND/liter compared to the current retail price); fuel oil 180CST 3.5S is not higher than 21,800 VND/kg (up 871 compared to the current retail price).