In the International market, oil prices fell strongly this week, more than 8% for Brent oil and around 7.7% for WTI oil. The decrease in world oil prices this week is four times greater than last week.
Brent crude oil prices closed the week at $ 61.29, while WTI crude oil prices closed at $ 58.29 a barrel.
In the domestic market, as planned, the Ministry of Industry and Commerce – Ministry of Finance will adjust the retail prices of gasoline tomorrow afternoon (Monday, May 5) because Thursday (May 1) is the International Labor Day.
Some oil companies believe that the internal prices of gasoline in the morning adjustment period could be adjusted downwards following the trend of world gas prices.
Specifically, if the regulatory body does not affect the oil price stabilization fund, internal gasoline prices could decrease between 130 and 480 VND/liter.
Similarly, diesel prices are likely to be adjusted between 180 and 380 Vnd per liter.
In the event that the regulatory body resorts to the stabilization fund, gasoline prices could decrease less.
If it is forecast, the internal prices of Ron 95 will be reversed and decrease after having adjusted upwards in the previous management period.
Currently, the price of this fuel is still at its lowest level of the last 4 years, equivalent to May 2021.
In the most recent adjustment period (April 24), the price of gasoline Ron 95 was adjusted up in 780 Vnd/Litro, the retail price is 19,630 Vnd/Litro.
While the price of gasoline E5 Ron 92 increased by 740 vnd/liter, the retail price increased to 19,230 Vnd/Litro.
The price of diesel increased by 490 Vnd/Litro, the retail price is 17,520 vnd/liter.
