The gasoline price forecasting model using machine Learning of the Vietnam Petroleum Institute (VPI) shows that in today's operating period (October 30), retail gasoline prices may reverse to increase by over 5% while oil prices increased sharply by 6.1 - 7.8% compared to the previous operating period, 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 - data analysis expert of VPI - it is forecasted that the retail price of E5 RON 92 gasoline may increase by 1,010 VND (5.3%) to 20,060 VND/liter, while RON 95-III gasoline may increase by 1,025 VND (5.2%) to 20,745 VND/liter.
VPI's model predicts that in this period, kerosene prices may increase sharply by 1,413 VND (7.8%) to 19,523 VND/kg, diesel prices may increase by 1,269 VND (7.1%) to 19,149 VND/liter, and mazut may increase by 6.1% to 14,951 VND/kg.
VPI forecasts that the Ministry of Finance - Industry and Trade will continue not to set aside or use the Petroleum Price Stabilization Fund this period.
According to a representative of a petroleum business, domestic petroleum prices will fluctuate according to the world petroleum situation. According to current market developments, it is forecasted that in the next price adjustment period, retail prices of gasoline may increase sharply.
In particular, RON 95-III gasoline price is forecast to increase by about 760 VND/liter; E5 RON 92-II gasoline increases by about 700 VND/liter; Diesel increases by about 1,370 VND/liter.
In the recent adjustment session (October 23), gasoline prices decreased simultaneously compared to the previous price management period. Of which, E5 RON 92 gasoline is priced at VND19,550/liter (down VND176/liter). RON 95-III gasoline is priced at VND19,526/liter (down VND177/liter).
Prices of oil products have decreased simultaneously. Of which, diesel 0.05S is priced at VND17,885/liter (down VND538/liter); kerosene has a new price of VND18,115/liter (down VND291/liter); mazut is priced at VND14,098/kg (down VND273).
