According to a survey at 15:37 on August 20 (Vietnam time), WTI oil price increased by 0.79 USD/barrel (up 1.28%), to 62.56 USD/barrel. Brent oil price increased by 0.79 USD/barrel (up 1.2%), to 66.58 USD/barrel.
Regarding domestic gasoline prices, Mr. Doan Tien Quyet - data analysis expert of VPI predicted that retail prices of E5 RON 92 gasoline may increase by 116 VND (0.6%) to 19,466 VND/liter, while RON 95-III gasoline may increase by 181 VND (0.9%) to 20,061 VND/liter.
VPI's model also predicts that retail oil prices will tend to decrease during this period. Accordingly, kerosene prices may decrease by 1.9% to VND17,678/liter, diesel may decrease by 1.7% to VND17,761/liter, and mazut may decrease by 1.3% to VND15,057/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 management period, retail prices of gasoline may adjust in opposite directions in the direction of increasing gasoline prices and decreasing oil prices.
Of which, RON 95 - III gasoline price is forecast to increase by about 160 VND/liter; E5 RON 92 - II gasoline increases by about 60 VND/liter; Diesel oil decreases by about 230 VND/liter.
In the adjustment session last week (8.14), the price of E5 RON 92 gasoline decreased compared to the previous adjustment period, at VND 19,354/liter (down VND 254/liter). RON 95-III gasoline price decreased compared to the previous adjustment period, at VND19,584/liter (down VND190/liter).
Prices of oil products also decreased simultaneously. Of which, diesel 0.05S is priced at VND18,077/liter (down VND723/liter); kerosene has a new price of VND18,020/liter (down VND640/liter); mazut is priced at VND15,268/kg (down VND379/kg).
