Gasoline price may drop to VND 10,000 / liter, the lowest in 13 years

Gasoline price may drop to VND 10,000 / liter, the lowest in 13 years


According to information from Singapore market, the price of Ron 92 for mixing E5 Ron 92 gasoline in the last 15 days is more than 18 USD / barrel, down 2 USD / barrel compared to the previous period. While Ron 95 has an average price of 17.8 USD / barrel, down more than 3 USD / barrel.

This is the information and conditions for the price of finished petroleum products in Vietnam can continue to decline in the next adjustment period tomorrow, April 28, 2020. According to calculations, if the deduction for setting up the petrol price stabilization fund remains the same, E5 Ron 92’s petrol price may be reduced by about VND 1,000 / liter, bringing E5 petrol price to over VND 10,000 / liter.

For Ron 95 gasoline, if the deduction for setting up the price stabilization fund is kept at VND 1,400 / liter, Ron 95 petrol price may decrease by VND 300 / day tomorrow. On the other hand, if the petrol price stabilization fund’s deduction level is lower, Ron 95 petrol price may drop deeply to the level of E5 petrol price.

If this prediction comes true, gasoline prices in Vietnam will decrease for the 8th time in a row since the beginning of this year and reduce to the lowest level in 13 years.

The sharp decline in gasoline prices since the beginning of this year was not only due to falling market demand but also due to the impact of the pandemic Covid-19 resulting in a sharp drop in world petroleum consumption.

Gasoline prices today in Vietnam after the latest price adjustment period is currently as follows:

PRICE LIST OF PETROL AND OIL TODAY

Product
Retail price

E5 RON 92 petrol price
11,343 VND / liter

RON 95 petrol price
11,939 dong / liter

Oil price DO 0.05S
10,823 VND / liter

Oil prices
VND 8,639 / liter
Mazut oil price 9.237 VND / kg

Lanzhou

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