Tomorrow, gasoline prices are expected to drop sharply.

Since the beginning of the year, domestic gasoline prices have increased 17 times and decreased 18 times. Photo: Hai Nguyen

The Vietnam Petroleum Institute's (VPI) Machine Learning-based gasoline price forecasting model shows that, in the upcoming September 12 adjustment period, gasoline prices could drop sharply by 4-4.8% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the Petroleum Price Stabilization Fund.

Of which, the retail price of E5 RON 92 gasoline is forecasted to decrease by VND959 (4.8%) to VND19,011/liter, while RON 95-III gasoline may decrease by VND841 (4%) to VND19,979/liter.

VPI's model predicts that retail oil prices will also tend to decrease sharply this period; of which, fuel oil is forecast to decrease by about 5.3% to 14,352 VND/kg, diesel oil is forecast to decrease by 3.5% to 17,448 VND/liter, and kerosene oil will decrease by 2.6% to 18,232 VND/liter.

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

Domestically, announcements from a number of petroleum wholesale businesses and distributors show that the discount for agents for gasoline is about 1,600 VND/liter, diesel 2,000 VND/liter, taking goods at Nha Be warehouse (HCMC). Taking goods at warehouses in the northern region, the discount ranges from 1,550 - 1,900 VND/liter.

Currently, the gasoline price is being applied in the price adjustment period on the afternoon of September 5. Accordingly, the price of E5 RON 92 gasoline decreased by 353 VND/liter, not higher than 19,979 VND/liter; RON95-III gasoline decreased by 282 VND/liter, not higher than 20,827 VND/liter.

Similarly, diesel oil decreased by 385 VND/liter, not higher than 18,092 VND/liter; kerosene decreased by 341 VND/liter, not higher than 18,724 VND/liter; mazut 180CST 3.5S decreased by 407 VND/kg, not higher than 15,155 VND/kg.

Thus, since the beginning of the year, domestic gasoline prices have increased 17 times and decreased 18 times. Meanwhile, oil prices have increased 15 times and decreased 20 times.

Source: https://laodong.vn/kinh-doanh/ngay-mai-gia-xang-dau-duoc-du-bao-giam-manh-1392417.ldo