The gasoline price forecasting model using machine Learning of the Vietnam Petroleum Institute (VPI) shows that in the afternoon session of October 2, retail gasoline prices may continue to increase by 0.7-2.8% compared to the previous session 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, the retail price of E5 RON 92 gasoline may increase by 157 VND (0.8%) to 19,767 VND/liter, while RON 95-III gasoline may increase by 133 VND (0.7%) to 20,293 VND/liter.
VPI's model predicts that retail oil prices will continue to increase this period, specifically kerosene prices may increase by 2.8% to VND19,141/liter, diesel may increase by 2.6% to VND19,135/liter, and mazut may increase by 2.5% to VND15,580/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 simultaneously.
In particular, the price of RON 95 - III gasoline is forecast to increase by about 0-50 VND/liter; E5 RON 92 - II gasoline increases by about 0-50 VND/liter; Diesel increases by about 330 VND/liter.
In the recent adjustment session (September 25), the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND19,618/liter (down VND368/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND 20,165/liter (down VND 443/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND 18,658/liter (down VND 47/liter); kerosene has a new price of VND 18,628/liter (up VND 84/liter); mazut is priced at VND 15,209/kg (up VND 79/kg).
