Forecast of gasoline price increase, oil price decrease in the operating period on August 21

According to the Machine Learning-based gasoline and oil price forecasting model of the Vietnam Petroleum Institute (VPI), in the August 21 management period, retail gasoline prices may increase slightly by 0.6 - 0.9%, while retail oil prices are forecast to decrease by 1.3 - 1.9% compared to the previous management period.

Gasoline and oil prices are expected to have mixed developments in the operating period on August 21. Illustrative photo

VPI data analysts said the retail price of E5 RON 92 gasoline could increase by VND116 (0.6%) to VND19,466 per liter, while RON 95-III gasoline could increase by VND181 (0.9%) to VND20,061 per liter.

During this period, retail oil prices tend to decrease. Specifically, kerosene prices may decrease by 1.9% to 17,678 VND/liter, diesel may decrease by 1.7% to 17,761 VND/liter, and mazut may decrease by 1.3% to 15,057 VND/kg.

VPI forecasts that this period, the Ministry of Finance and Industry and Trade will continue not to set aside or use the Gasoline and Oil Price Stabilization Fund.

In the world , crude oil prices continued to fall. On August 19, WTI crude oil fell to 63.08 USD/barrel, down 0.54% compared to yesterday. Brent oil fell to 66.08 USD/barrel, down 0.78%. The oil market is experiencing low liquidity and prices fluctuated in a narrow range this week, ICE Brent oil fluctuated around 66 USD/barrel.

Source: https://hanoimoi.vn/du-bao-gia-xang-tang-gia-dau-giam-trong-ky-dieu-hanh-ngay-21-8-713222.html