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Can gasoline prices continue to increase, surpassing the 31,000 VND/liter mark?

It is predicted that domestic gasoline prices in the adjustment period on June 1 are likely to increase sharply according to world gasoline prices.

According to regulations, the next 1/6 is the operating cycle gas price oil. Each liter of gasoline is forecasted to increase from 350-850 VND, making the price of RON 95 gasoline likely to exceed 31,000 VND/liter.

Can gasoline prices continue to increase, surpassing the 31,000 VND/liter mark?-1

According to data from the Ministry of Industry and Trade, the retail gasoline price 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 adjustment period of gasoline price on May 23, the price of gasoline E5RON92 was adjusted to increase by 674 VND/liter; gasoline RON95-III increased by 669 VND/liter. Thus, the domestic gasoline price has adjusted up for the 4th time in a row, and at the same time set a new record. Generally after this adjustment period, since the beginning of the year, the domestic gasoline price has had 10 periods of upward adjustment, while only 3 times of downward adjustment.

Thus, the domestic gasoline price from 15:00 pm on 23/5 is:

– E5RON92 gasoline: not higher than 29,633 VND/liter

– RON95-III gasoline: not higher than 30,657 VND/liter

– 0.05S diesel oil: not higher than 25,553 VND/liter

– Kerosene: not higher than 24,405 VND/liter

– Fuel oil 180CST 3.5S: not higher than 20,598 VND/kg

Last week, the world oil price had trading sessions with a strong uptrend, increasing by 6% for the whole week with Brent oil and 1.5% with WTI oil. 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.

According to VTV

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