VPI forecasts that gasoline prices will continue to decrease in the operating period of July 25, 2024.
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 forecasts that the retail gasoline price in the operating period of July 25, 2024 may decrease slightly from 343 - 370 VND/liter, bringing the price of E5 RON 92 gasoline to 21,800 VND/liter and the price of RON 95-III gasoline to 22,827 VND/liter.
VPI's model predicts that retail oil prices will also decrease by 259 - 461 VND this period; of which, fuel oil prices will decrease by about 2.6% to 17,149 VND/kg, followed by kerosene decreasing by 1.7% to 20,316 VND/liter, and diesel is forecast to decrease by 1.3% to 20,241 VND/liter. VPI predicts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
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