Gasoline prices tomorrow are likely to increase simultaneously.

Gasoline prices forecast to increase slightly tomorrow

According to Mr. Doan Tien Quyet, data analysis expert of VPI, the gasoline price forecasting model applying the Artificial Neural Network (ANN) model and the supervised learning algorithm in Machine Learning of VPI predicts that the retail price of E5 RON 92 gasoline may increase by 352 VND to 20,212 VND/liter, and RON 95-III gasoline may increase by 369 VND to 20,959 VND/liter.

VPI's model forecasts that retail oil prices this period will also tend to increase by 1.5 - 2%, in which fuel oil may increase by 1.5% to 15,803 VND/kg, followed by kerosene which is forecast to increase by 1.6% to 18,866 VND/liter, and diesel may increase by 2% to 18,619 VND/liter.

In the world market, in the afternoon session of December 17 (Vietnam time), the price of US light sweet crude oil WTI decreased by 11 US cents to 70.60 USD/barrel, while the price of North Sea Brent crude decreased by 2 US cents to 73.89 USD/barrel.

Oil prices continued to fall in Asia as Chinese economic data raised concerns about demand, while investors remained cautious ahead of the US Federal Reserve's policy meeting.

Many experts also believe that the outlook for the oil market next year is being negatively impacted as supply from countries outside the Organization of the Petroleum Exporting Countries (OPEC) and its allies, also known as OPEC+, is increasing, while demand is slowing, mainly in China.

In a recent report, the International Energy Agency (IEA) said that even if the OPEC+ group maintains its production cut policy, the oil market will have an oversupply of 950,000 barrels/day next year, equivalent to nearly 1% of global supply.

TB (according to VNA)

Source: https://baohaiduong.vn/gia-xang-dau-ngay-mai-co-kha-nang-dong-loat-tang-400782.html