Fuel prices could drop tomorrow

On the international market, oil prices have dropped sharply this week, by more than 8% for Brent oil and approximately 7.7% for WTI oil. The drop in world oil prices this week is four times greater than that of last week.

Brut Brent oil prices ended the week at $ 61.29/barrel, while WTI crude oil prices ended at $ 58.29/barrel.

On the internal market, according to the plan, the Ministry of Industry and Trade – Ministry of Finance will adjust the prices of petrol of the petrol tomorrow afternoon (Monday May 5) because Thursday (May 1) is International Labor Day.

Some oil companies believe that gasoline prices on the internal market could be adjusted downwards during the adjustment period of tomorrow, following the world’s prices trend.

More specifically, if the regulatory agency does not affect the oil prices stabilization fund, national petrol prices could decrease by around 130 to 480 VND/liter.

Likewise, diesel prices should be adjusted down 180 to 380 VND/liter.

If the regulation body draws from the stabilization fund, petrol prices could drop less.

If we base ourselves on forecasts, the prices of national gasoline Ron95-IIi will be reversed and decrease after being adjusted upon the previous management period.

Currently, the price of this fuel is still at its lowest level in 4 years, equivalent to May 2021.

During the most recent adjustment period (April 24), the price ceiling of petrol E5ron92 was 19,238 VND/liter, an increase of 740 VND/liter; The Ron95-III essence costs 19,638 VND/liter, an increase of 782 VND/liter.

The price of diesel increased by 487 VND/liter, to 17,524 VND/liter; Kerosene increased by 531 VND/liter, the new price is 17,715 VND/liter and oil oil increased by 564 VND, to 16,524 VND/Kg.TB (Summary)