Gasoline prices set a new record today?

According to the provisions of Decree 95, operating time gasoline prices will fall on the 1st, 11th and 21st of every month. But May 21 is a Saturday and is a holiday, so the Inter-Ministry of Finance – Industry and Trade has decided to delay the adjustment of petrol prices to today, Monday (May 23).

Data from the Ministry of Industry and Trade shows that the retail gasoline price on the Singapore market updated to May 19 increased sharply compared to the previous price calculation period. Specifically, the average price of RON 92 gasoline used to make E5 RON 92 gasoline was $140.11/barrel, in the previous cycle it was $136.96/barrel. And RON 95 gasoline is 144.39 USD/barrel, the previous cycle was 141.09 USD/barrel.

In the world market, gasoline prices continued to increase. US WTI oil prices last week recorded a fourth consecutive weekly increase. Brent crude is up about 1% this week.

At the end of the week, WTI oil price increased by 0.35% to 110.3 USD/barrel. And Brent crude oil price for July delivery also increased 0.46% to 112.5 USD/barrel.

Experts believe that oil prices will rise sharply again when China reopens the city of Shanghai after a strict anti-epidemic period.

Due to the increasing trend of world gasoline prices in recent days, domestic gasoline and oil prices in the price adjustment period on May 23 will also increase according to world gasoline and oil prices.

Leaders of some petroleum wholesalers in Hanoi said that the base price of gasoline in the country is negative compared to the world price of about 850-950 VND/liter. The retail price of oil in the country is currently about 1,300 VND/liter lower than the world oil price.

Therefore, in the operating period on May 23, if the management agency does not deduct the petrol price stabilization fund, the price of gasoline may increase by about 850-950 VND/liter, while the price of diesel oil will decrease by about 1,300 VND/liter.

In case the management agency reduces the setting up or increases the expenditure of the Stabilization Fund, the price of gasoline may increase less, about 600-900 VND/liter, while the price of oil will decrease by about 600-800 VND/liter or kg (depending on the type). ).

However, experts are not inclined to this option because the stabilization fund at enterprises is negative, so this operating period, the management agency is likely not to deduct the Fund with gasoline. By the end of March, the balance of the Petroleum Price Stabilization Fund fell to a negative level of nearly 170 billion dong.

If the forecast is true, the domestic gasoline price will increase for the 4th time in a row. If so, the domestic gasoline price may approach the mark of 31,000 VND/liter.

From the beginning of the year until now, in the total of 12 operating periods, gasoline prices have increased 9 times and decreased only 3 times.

In the latest operating period on May 11, the Inter-Ministry of Industry and Trade – Finance decided to increase many types of gasoline and oil. Accordingly, the price of gasoline E5RON 92 increased by 1,490 VND / liter, to 28,959 VND / liter. The price of RON 95 gasoline increased by 1,550 VND/liter, to 29,983 VND/liter. This is the highest price of RON 95 gasoline ever.

Similarly, diesel oil was also adjusted to increase by 1,210 VND/liter, to 26,740 VND/liter; kerosene oil increased by 1,340 VND/liter, to 25,165 VND/liter, while fuel oil remained unchanged at 21,560 VND/kg.

Analysts said that in the coming time, domestic gasoline prices will continue to be affected by unpredictable fluctuations in the world market.

Handsome

Gasoline prices in the period increased sharply, record expensive ‘burning’ people’s pocketLeaders of some petroleum wholesalers forecast that the domestic gasoline price on May 23 could increase by up to 700 VND/liter, bringing the price of gasoline to over 30,000 VND/liter. If the forecast is true, this will be the fourth consecutive increase in gasoline prices.