Gasoline price continues to increase, surpassing 31,000 VND/liter?

According to regulations, the next 1/6 is the operating cycle gasoline prices.

Data from the Ministry of Industry and Trade shows that retail gasoline prices on the Singapore market updated to May 26 increased sharply compared to the previous price calculation period. Specifically, the price of RON 92 gasoline used to prepare E5 RON 92 gasoline has an average price of $142.44/barrel. And RON 95 gasoline is 150.62 USD/barrel.

In the world market, gasoline prices continued to increase. Last week, the world oil price had strong increase days. For the whole week, Brent crude oil price increased by 6% and WTI crude oil price increased by 1.5%.

At the end of the week, WTI oil price increased 0.86% to 115.1 USD/barrel. The price of Brent crude oil for July delivery increased 1.73% to 119.4 USD/barrel. The price of Brent crude oil has now hit a two-month high.

Experts believe that the current increase in crude oil prices is mainly due to the strong increase in global demand for fuel and products derived from crude oil.

Due to the increasing trend of world gasoline prices in recent days, domestic gasoline and oil prices in the price adjustment period on June 1 will also increase according to world gasoline and oil prices.

Leaders of some petroleum wholesalers in Hanoi said that compared to 10 days ago, the retail price of gasoline in the country is lower than the average selling price of finished gasoline on the Singapore market from 350-850 VND. /liter.

Therefore, at the operating period on June 1, if the management agency does not deduct the Petroleum Price Stabilization Fund, each liter of domestic gasoline can increase by about 350-850 VND. Accordingly, the price of RON 95 gasoline can exceed 31,000 VND/liter. And oil price in the adjustment period on June 1 may also increase slightly.

If the forecast is true, the domestic gasoline price will have the 5th consecutive increase. From the beginning of the year until now, in the total of 13 operating periods, the price of petrol has increased 10 times and only 3 times decreased. Petrol prices in the country since the beginning of the year have increased by 6,741-6,774 VND/liter. In the past 2 years, the domestic gasoline price has increased by nearly 20,000 VND/liter.

In the latest operating period on May 23, the inter-ministries of Industry, Trade and Finance decided to increase gasoline prices and reduce oil prices. Accordingly, the price of gasoline E5RON 92 increased by 680 VND / liter, to 29,630 VND / liter. The price of RON 95 gasoline increased by 670 VND/liter, to 30,650 VND/liter.

Meanwhile, the price of oil products simultaneously fell sharply. Specifically, diesel oil decreased by 1,100 VND/liter, the selling price was 25,550 VND/liter; KO oil decreased by 760 VND/liter, selling price was 24,400 VND/liter; DO oil decreased by 970 VND/liter, the selling price was 20,590 VND/liter.

Handsome

Pressure to increase prices according to gas pricesGasoline prices reached the threshold of 30,500 VND / liter, which led to all of them increasing the price, listening to the announcement but just ‘calling for heaven’ and then accepting but knowing who to call now.