Forecast of sharp increase in gasoline prices from 2.2 - 3.8% in today's operating session

Thạch Lam |

VPI forecasts that gasoline prices will increase by 2.2 - 3.8% if the Ministry of Finance - Industry and Trade does not set aside or use the Petroleum Price Stabilization Fund.

According to a survey at 033:00 on April 24 (Vietnam time), WTI oil price increased by 0.06 USD/barrel (up 0.1%), to 62.33 USD/barrel. Brent oil price increased by 0.06 USD/barrel (up 0.09%), to 66.18 USD/barrel.

There have been recent tensions between OPEC+ members over compliance with production quotas. Phil personal - an analyst at Price Futures Group, said: "I would not be surprised if OPEC wanted to increase production. This could raise concerns about the alliance's cohesion. Maybe they are tired of having to hold back from increasing output".

Both price standards fell slightly after the Kazakhstan Energy Ministry issued a statement saying Kazakhstan is not a member of OPEC but is an ally in the OPEC+ group. As a responsible participant in the international energy community and interested in predictability as well as supply-demand balance.

The market also received some support after government data showed US crude oil reserves unexpectedly increased last week, while both gasoline and distillate reserves fell more than expected.

For the domestic market, Mr. Doan Tien Quyet - data analysis expert of the Vietnam Petroleum Institute (VPI) predicted that the retail price of E5 RON 92 gasoline may increase by 703 VND (3.8%) to 19,193 VND/liter, while RON 95-III gasoline may increase by 724 VND (3.8%) to 19,574 VND/liter.

VPI's model predicts that retail oil prices this period will also share the same uptrend. Diesel may increase by 2.2% to VND17,405/liter, kerosene may increase by 2.3% to VND17,575/liter, and mazut may increase by 2.8% to VND16,407/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.

Domestic retail gasoline prices on April 23, 2025 will be applied according to the adjustment session from 3:00 p.m. on April 17 of the Ministry of Finance - Ministry of Industry and Trade.

In the adjustment session on April 17, the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND18,498/liter (down VND384/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND18,856/liter (down VND351/liter).

Prices of oil products increased and decreased in opposite directions. Of which, diesel 0.05S is priced at VND17,037/liter (down VND206/liter); kerosene has a new price of VND17,184/liter (down VND229/liter); mazut is priced at VND15,960/kg (up VND58/kg).

Thạch Lam
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