According to a survey at 8:37 a.m. on August 7 (Vietnam time), WTI oil price increased by 0.58 USD/barrel (up 0.9%), to 64.93 USD/barrel. Brent oil price increased by 0.69 USD/barrel (up 1.03%), to 67.47 USD/barrel.
For the domestic market, according to Mr. Doan Tien Quyet - data analysis expert of VPI - the retail price of E5 RON 92 gasoline may increase by 584 VND (3%) to 19,984 VND/liter, while RON 95-III gasoline may increase by 601 VND (3%) to 20,441 VND/liter.
VPI's model also predicts that retail oil prices will increase and decrease slightly during this period, specifically, diesel may decrease by 0.5% to VND18,965/liter, kerosene may increase by 0.6% to VND18,822/liter, while mazut may increase by 1.8% to VND15,810/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 have opposite adjustments.
In particular, gasoline prices are forecast to increase by about 200 - 300 VND/liter; oil prices decrease by about 100 - 200 VND/liter.
In the adjustment session on July 31, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 19,401/liter (up VND 122/liter). RON 95-III gasoline price increased compared to the previous adjustment period, at VND19,840/liter (up VND131/liter).
Prices of oil products fluctuated in different directions. Of which, diesel 0.05S is priced at VND19,568/liter (down VND61/liter); kerosene has a new price of VND18,714/liter (up VND86/liter); mazut is priced at VND15,533/kg (up VND154/kg).
