The Vietnam Petroleum Institute (VPI)'s Machine Learning-based gasoline price forecasting model shows that, in the upcoming adjustment period on December 12, gasoline prices will continue to decrease by 0.9 - 1.1%, while oil prices will decrease by 1.6 - 3.3% if the Ministry of Finance and the Ministry of Industry and Trade do not set aside or use the Petroleum Price Stabilization Fund.
According to Mr. Doan Tien Quyet - data analysis expert of VPI, the retail price of E5 RON 92 gasoline is forecasted to decrease by VND 220 (1.1%) to VND 19,640/liter, while RON 95-III gasoline may decrease by VND 180 (0.9%) to VND 20,380/liter.
VPI's model forecasts that retail oil prices this period will also decrease by 1.6 - 3.3%; of which, fuel oil may decrease sharply by 3.6% to VND15,590/kg, followed by kerosene which is forecast to decrease by 2.1% to VND18,408/liter, and diesel may decrease by 1.6% to VND18,083/liter.
VPI forecasts that the Ministry of Finance and Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this time.
Since the beginning of the year, since the price adjustment session on January 4, gasoline prices have increased 22 times and decreased 26 times. Oil prices have increased 21 times and decreased 27 times.
Domestic retail gasoline prices are currently being applied in the price management period on the afternoon of December 5.
E5 RON 92 gasoline is not more than 19,864 VND/liter.
RON 95-III gasoline is not more than 20,563 VND/liter.
Diesel oil not more than 18,382 VND/liter.
Kerosene not more than 18,817 VND/liter.
Fuel oil not exceeding 16,125 VND/kg.
