On August 26, gasoline prices increased slightly, US WTI oil prices increased by 0.75%, trading at 75.4 USD/barrel; Global benchmark Brent oil price inched up 0.7%, trading at 78.7 USD/barrel.
Crude oil prices continued to increase in the trading session on August 26 due to concerns that the conflict in Gaza is at risk of turning into a regional conflict, attracting the participation of many countries and possibly disrupting oil supply. Analysts say that crude oil prices are likely to extend their upward momentum as the conflict in this region escalates.
Domestically, forecasts show that imported petroleum sources are quite abundant. On the morning of August 26, distributors and wholesalers announced discounts above the 1,000 VND mark, ranging from 1,300 - 1,600 VND/liter, to pick up goods in the Northern warehouse area.
Talking to Lao Dong, some gasoline distributors in Hanoi said that in the next adjustment period (Thursday, August 29), gasoline prices may be adjusted downward. In particular, gasoline E5 RON 92 and RON 95 are forecast to decrease by 300 VND/liter; Diesel oil is forecast to decrease by 400 VND/liter.
According to gasoline distributors, the above forecast price does not take into account the executive agency's appropriation or expenditure of the gasoline price stabilization fund. If the executive agency makes an appropriation, the gasoline price can remain the same compared to the previous adjustment period. If it is spent, the gasoline price will decrease more sharply.
However, from the 44th period of gasoline price adjustment on August 22, starting from October 2023, the operator will not use the gasoline price stabilization fund. By the end of 2023, this fund has a surplus of more than 6,655 billion VND, according to data from the Ministry of Finance.
From the beginning of the year until now, gasoline prices have increased 17 times and decreased 16 times. Oil increased 15 times and decreased 18 times.
On August 26, the popular retail prices of gasoline on the market are as follows: E5 RON92 gasoline not more than 20,424 VND/liter, RON 95-III gasoline not more than 21,317 VND/liter, diesel oil not more than 18,776 VND/liter, kerosene not more than more than 19,149 VND/liter and fuel oil not more than 15,756 VND/kg.
