Gasoline prices may increase by 600 VND/liter from 3:00 p.m. this afternoon.

Gasoline prices are expected to increase this afternoon. Photo: Nguyen Phu

According to plan, the Ministry of Industry and Trade - Ministry of Finance will adjust retail gasoline prices periodically this afternoon (January 18).

The leader of a major petroleum distribution company in the South said that after the last week's management period, crude oil prices tended to increase due to escalating tensions in the Middle East, causing concerns about supply disruptions. Accordingly, domestic petroleum prices are likely to increase further in the management period this afternoon.

Specifically, gasoline prices are expected to increase by 400-600 VND/liter, diesel is forecast to increase similarly by about 500-550 VND/liter. However, if the Ministry of Industry and Trade and the Ministry of Finance use the Price Stabilization Fund, gasoline prices may increase less.

Similarly, the owner of a petroleum distribution company in the North also predicted that gasoline prices will increase for the second consecutive time in this afternoon's management period. The discount of gasoline at many warehouses is currently at 700-1,000 VND/liter.

If the forecast is correct, domestic gasoline prices will have 2 consecutive increases. In the past year, gasoline prices have undergone 38 adjustments, including 19 increases, 13 decreases, 4 unchanged, and 2 mixed increases and decreases.

Currently, the petroleum price stabilization fund of some key enterprises still records a large positive level because in recent management periods, the management agency has rarely used this fund. Of which, as of January 11, Petrolimex recorded a positive fund level of VND 3,055 billion; PV Oil had a negative fund level of VND 144.32 billion; Saigon Petro had a positive level of VND 327.5 billion; Petimex had a positive level of VND 446 billion...

Source: https://laodong.vn/kinh-doanh/gia-xang-co-the-tang-600-donglit-tu-15h-chieu-nay-1293928.ldo