Early on February 5, on the Oilprice website, the price of Brent oil traded at 79.3 USD/barrel, down 2.49 USD/barrel, equivalent to 3.28%; WT oil price traded at 79.94 USD/barrel, down 2.34 USD/barrel, equivalent to 2.74%.
Meanwhile, the latest updated data of the Ministry of Industry and Trade shows that on the Singapore market as of February 2, the price of A92 gasoline was $95.7/barrel, A95 gasoline was $99.1/barrel, diesel 108, 9USD/barrel. This price is lower than the average world price of petroleum products between January 11 and January 30. Accordingly, the average world price of petroleum products during this period was $98,859/barrel of RON92 gasoline used to prepare E5RON92 gasoline and $102,269/barrel of RON95 gasoline.
Petroleum enterprises forecast that the retail price of gasoline in the country may decrease if the world oil price continues to cool down. (Illustration)
According to some petroleum trading enterprises, the world crude oil price has tended to decrease recently. Especially in the last session of the week, Brent oil fell below the 80 USD/barrel mark, pushing the decrease in petrol and oil for the whole week down to nearly 8%. The reason for the cooling of oil prices is said to come from concerns about higher interest rate hikes by the US Federal Reserve (FED) in its anti-inflation strategy.
However, there are still nearly 10 days left until the next petrol price adjustment period, so the retail price of petrol in the country mainly depends on the world oil price movement in the coming days and the operation of the Price Stabilization Fund. BOG).
On January 30, the inter-ministries of Industry, Trade and Finance announced to adjust the retail price of petrol and oil in the country from 6 pm on January 30 in the direction of increasing prices of various commodities. Accordingly, the price of RON95 gasoline increased by 990 VND/liter to 23,140 VND/liter, E5 RON92 gasoline increased by 970 VND/liter to 22,320 VND/liter.
Meanwhile, the price of diesel oil increased by 890 dong/liter, to 22,520 dong/liter. Kerosene oil is 22,570 VND, an increase of 770 VND and fuel oil is 13,930 VND/kg, an increase of 570 VND compared to the operating period on 11/1.