Gasoline prices continue to go down and are expected to go down for the second time consecutive

Tomorrow (May 7, 2025) it is time to regulate the retail prices of gasoline in accordance with Decree 80/2023/ND-CP that modifies and complements a series of articles of Decree 95/2021/ND-CP and Decree 83/2014/ND-CP of the Government on gasoline trade.

This morning, at 8:55 am (Vietnam time), the price of WTI crude oil was negotiated at 59.55 USD/Barril, rising USD/Barril, equivalent to an increase of 0.78% compared to the negotiation session of yesterday. The Brent oil price was quoted at 62.53 USD/Barril, rising USD/Barril, equivalent to an increase of 0.61%.

Meanwhile, gasoline prices in the Singapore market, updated to May 6, have shown a downward trend, but the decrease is not significant. Specifically, the price of RON 95 gasoline is 74.97 USD/Barril, lowering more than 1.87 USD/Barril compared to 3 days ago; Ron 92 gasoline is 73.46 USD/Barril, a fall of more than 1.7 USD/Barril. Therefore, it is likely that the internal prices of gasoline continue to go down during the morning adjustment period.

Based on the evolution of global oil prices, some oil and gas companies believe that internal oil and gas prices are expected to be adjusted to decline according to world prices.

Specifically, if the regulatory body does not affect the oil price stabilization fund, internal gasoline prices could decrease between 430 and 520 VND/liter. Similarly, diesel prices are likely to be adjusted between 630 and 780 Vnd per liter.

In the event that the regulatory body resorts to the stabilization fund, gasoline prices could decrease less. As planned, internal prices of gasoline Ron 95 will decrease for the second consecutive time. Currently, the price of this fuel is at its lowest level of the last 4 years.

In another development, the gasoline pricing model based on automatic learning of the Vietnam Petroleum Institute (VPI) said that in the operational period of May 8, the retail price of gasoline E5 Ron 92 could decrease by 613 VND (3.2%) to 18,537 Vnd/liter, while the gasoline rum 95-III could decrease by 636 VND (3.2%) to 18.944 Vnd/Litro.

The VPI model predicts that retirement retailer prices in this period will also tend to more than 4%, specifically diesel can decrease 4.1% to 16,647 VND/liter, kerosene can decrease 4.6% to 16,752 VND/liter and heating fuel can decrease 4.1% to 15,526 vnd/kg. VPI predicts that the Ministry of Finance and Industry and Commerce will still not reserve or use the Petroleum Price Stabilization Fund on this occasion.

Previously, in the operating period of May 5, 2025 of the Ministry of Industry and Commerce – Finance, gasoline prices were adjusted, specifically, the price of gasoline E5 Ron 92 decreased by 84 Vnd/Litro, up to 19,154 Vnd/Liter; RON 95 gasoline decreased 52 Vnd/Litro, to 19,586 Vnd/Liter.

The price of diesel 0.05s decreased 165 Vnd/liter, to 17,359 vnd/liter; The kerosene decreased 151 vnd/liter, to 17,564 vnd/liter; The price of 180cst 3.5s mazut oil decreased 326 VND/kg, to 16,198 vnd/kg.

During this operating period, the Ministry of Industry and Commerce – Ministry of Finance did not reserve or use the E5RON92 petroleum price stabilization fund, gasoline RON95, diesel, chest and Mazut oil.