According to regulations, tomorrow (June 27) is the period for regulating retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.

Domestic gasoline prices are being affected by world gasoline prices and the Singapore market.

In the world market, world oil prices last week recorded the second consecutive week of strong increase. Overall, last week, both benchmarks, Brent and WTI, increased by about 3%.

This week, after increasing about 1% in the first trading session of the week (June 24), world oil prices turned down. At the end of the trading session on June 25, oil prices decreased by 1%.

At the beginning of the session on June 26, world oil prices continued to fall. Brent oil prices lost the 85 USD/barrel mark.

According to data from Oilprice, at 8:15 a.m. on June 26 (Vietnam time), Brent oil price was trading at 84.92 USD/barrel, down 0.11% compared to the previous session. WTI oil price was at 80.79 USD/barrel, down 0.05% compared to the previous session.

In the Singapore market, in the recent period, the average price of finished gasoline in this market increased slightly compared to the previous period.

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Domestic gasoline prices may increase tomorrow. Photo: Nguyen Hue

Based on the developments in world oil prices, leaders of some oil companies believe that domestic gasoline prices in the management session tomorrow (June 27) are likely to increase.

Petroleum companies predict that if the regulatory agency does not affect the Petroleum Price Stabilization Fund (BOG Fund), domestic gasoline prices may increase by 450-600 VND/liter. Oil prices are expected to increase by 290-350 VND/liter, depending on the type.

In case the Ministry of Finance and Industry and Trade spends the BOG Fund, the gasoline price is likely to increase less.

If the above forecast is correct, domestic gasoline products will set a "hat-trick" of increases.

In the most recent petrol price adjustment period (June 20), petrol prices were jointly adjusted by the Ministry of Industry and Trade - Ministry of Finance to increase all products.

Accordingly, the price of E5 gasoline increased by 190 VND/liter, the selling price is 21,500 VND/liter. The price of RON 95 gasoline increased by 230 VND, the selling price is 22,460 VND/liter.

Similarly, diesel price was also adjusted up by 720 VND/liter, selling price at 20,360 VND/liter.

Kerosene price increased by 500 VND/liter, selling price up to 20,350 VND/liter.

Oil prices today, June 26, 2024, weakened. Oil prices today, June 26, 2024, on the international market weakened due to the strengthening of the greenback and investors remaining cautious about the possibility that high interest rates will remain for a long time.