The Machine Learning-based gasoline price forecasting model of the Vietnam Petroleum Institute (VPI) shows that, in the operating period on November 28, gasoline prices may reverse and increase by 1.3 - 1.7% if the Ministry of Finance - Industry and Trade does not set aside or use the Petroleum Price Stabilization Fund.
According to Mr. Doan Tien Quyet, a data analyst at VPI, according to data from the gasoline price forecasting model, the retail price of E5 RON 92 gasoline may increase by VND332 (1.7%) to VND19,672/liter, while RON 95-III gasoline may increase by VND263 (1.3%) to VND20,783/liter.
VPI's model also forecasts that retail oil prices this period will increase from 0.2 - 1.3%.
Of which, diesel price may increase by 1.3% to VND18,736/liter, kerosene price is forecast to increase by 0.8% to VND18,077/liter, and fuel oil may increase by 0.2% to VND16,041/kg.
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.
On November 27, retail gasoline prices according to the price list announced by Petrolimex in regions 1 and 2 (46 provinces and cities currently applying) are as follows:
The above domestic retail prices of gasoline and oil were adjusted by the Ministry of Finance - Industry and Trade in the price management session on the afternoon of November 21. Accordingly, most gasoline and oil products decreased simultaneously. The price of E5 RON 92 gasoline decreased the most, by 109 VND/liter. RON 95-III gasoline decreased by 79 VND/liter, diesel oil decreased by 64 VND/liter, kerosene decreased by 67 VND/liter. Only fuel oil increased by 5 VND/kg.
