Tomorrow (September 19) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.

In the world market, oil prices last week recorded the first weekly increase after 3 weeks of decline. Overall, last week, Brent oil prices increased about 0.8%, WTI oil prices increased about 1.4%.

Oil prices continued to rise in the first two trading sessions of the week this week. After rising 2% in the first trading session of the week (September 16), world oil prices continued to increase by more than 1% in the session on September 17 due to increasing supply disruptions and traders betting that demand will increase if the US Federal Reserve (Fed) cuts interest rates.

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Tomorrow's gasoline prices are likely to move in opposite directions. Photo: Tuan Anh

However, at the beginning of the trading session on September 18, world oil prices decreased slightly after data showed that US gasoline and oil inventories increased.

According to data from Oilprice, at 9:12 a.m. on September 18 (Vietnam time), Brent oil price was trading at 73.43 USD/barrel, down 0.37% compared to the previous session. WTI oil price was at 70.93 USD/barrel, also down 0.37% compared to the previous session.

Meanwhile, imported gasoline prices in the Singapore market increased slightly compared to the previous period.

Based on the developments of world oil prices, some oil businesses believe that domestic oil prices at the adjustment session tomorrow (September 19) may fluctuate in opposite directions.

Oil and gas companies predict that if the regulatory agency does not affect the Oil and Gas Price Stabilization Fund, domestic gasoline prices could increase by 180-320 VND/liter. Meanwhile, diesel prices are expected to decrease by 120-230 VND/liter.

In case the regulatory agency sets aside the Petroleum Price Stabilization Fund, the possibility is that the petroleum price will remain the same as the previous adjustment period.

In the most recent petrol price adjustment period (September 12), the prices of petrol and oil were adjusted by the Ministry of Industry and Trade - Ministry of Finance in a sharp downward direction.

Specifically, the price of E5 gasoline decreased by 1,080 VND/liter, selling price is 18,890 VND/liter. The price of RON 95 gasoline decreased by 1,190 VND/liter, selling price is 19,630 VND/liter.

Similarly, diesel price was also adjusted down by 930 VND/liter, selling price is 17,160 VND/liter. Kerosene price also decreased by 930 VND/liter, selling price is 17,790 VND/liter.

Gasoline prices plummet, RON 95 is only over 19,000 VND/liter. Gasoline prices in the operating period on September 12 decreased sharply, pulling the price of RON 95 gasoline down to just over 19,000 VND/liter.