Gasoline prices may fall sharply by 6.5 - 8.6% in tomorrow's operating session
Gasoline prices may decrease sharply by 6.5 - 8.6% if the Ministry of Finance - Industry and Trade does not set aside or use the Petroleum Price Stabilization Fund.
According to the gasoline price forecasting model using machine Learning of the Vietnam Petroleum Institute (VPI), in the operating period tomorrow, April 10, gasoline prices may decrease sharply by 6.5 - 8.6% if the Ministry of Finance - Industry and Trade does not set aside or use the Petroleum Price Stabilization Fund.
Mr. Doan Tien Quyet - data analysis expert of VPI, predicted that the retail price of E5 RON 92 gasoline could decrease by VND 1,624 (8%) to VND 18,746/liter. Meanwhile, RON 95-III gasoline may decrease by VND 1,795 (8.6%) to VND 19,115/liter.
VPI's model predicts retail oil and diesel prices this period will also tend to decrease sharply. Diesel may decrease by 6.7% to VND17,234/liter. Ngoai may decrease by 6.5% to VND17,516/liter. Mazut oil may decrease by 6.9% to VND 15,841/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.
For the world market, according to the survey at 9:10 a.m. on April 9 (Vietnam time), WTI oil price decreased by 1.91 USD/barrel (down 3.21%), down to 57.67 USD/barrel. Brent oil price decreased by 1.88 USD/barrel (down 2.99%), down to 60.94 USD/barrel.
Alex Hodes, Chief Market Strategist at financial services firm StoneX, said: "This scenario shows the risk of a global recession, with concerns about rising energy demand."
In a speech to US Senators on Tuesday, US Trade Representative Jamieson Greer said that China has shown no signs of moving towards a back-and-forth in trade.
Goldman Sachs forecasts Brent and WTI crude oil prices will reach 62 and 58 USD/barrel respectively in December 2025. It could even fall to $55 and $51 a barrel next year, based on different scenarios.
According to Natasha Kaneva, head of global commodity strategy at JP Morgan, the US government is showing strong determination to reduce crude oil prices to $50 or less, considering this one of the top priorities.
Domestic retail gasoline prices on April 9, 2025 will be applied according to the adjustment session from 3:00 p.m. on January 3 of the Ministry of Finance - Ministry of Industry and Trade.
In the adjustment session on April 3, the price of E5 RON 92 gasoline increased compared to the previous adjustment period, at VND 20,373/liter (up VND 341/liter). RON 95-III gasoline price increased compared to the previous adjustment period, priced at VND 20,919/liter (up VND 495/liter).
Prices of oil products have also increased simultaneously. Of which, diesel 0.05S is priced at VND18,478/liter (up VND261/liter); kerosene has a new price of VND18,735/liter (up VND11/liter); mazut is priced at VND17,026/kg (up VND124/kg).
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