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Gasoline prices continue to rise, the first day after the holiday greets worrying news

According to the provisions of Decree 95 on Gasoline and Oil Trade, the operating hours for Gasoline and Oil prices fall on the 1st, 11th and 21st of each month. Thus, according to the schedule tomorrow (May 1), the Inter-Ministry of Finance – Industry and Trade will adjust gasoline prices according to a new cycle.

However, since this new gasoline and oil administration period falls on International Labor Day, the time for gasoline and oil prices to adjust will be delayed. Because according to the regulation, the operating time for operating times that coincide with state-mandated public holidays or public holidays is postponed to the next working day after the public holiday or public holiday.

According to the leaders of some oil companies, the timing for the adjustment of gasoline and oil prices may be delayed on May 4th. Gasoline prices are likely to increase in the new adjustment period, but due to a long lag while gasoline and oil prices are constantly fluctuating around the world, it is difficult to predict how specific the increase will be.

Gasoline prices after the holiday can go up

Data from the Ministry of Industry and Trade updated to April 28 shows that the price of finished gasoline in the Singapore market tends to increase compared to the previous price calculation period (April 21). Accordingly, the average price of RON 92 gasoline used to produce E5 RON 92 gasoline has an average price of $123.5/barrel in the new cycle and $118.59/barrel in the old cycle. And RON 95 gasoline is about $129/barrel, the old cycle is $125.93/barrel.

On the world market, crude oil prices have risen in recent sessions. Today at 10:27 (April 30, Vietnam time), the price of WTI oil stood at 104.7 USD/barrel, while the price of Brent crude oil for June delivery rose 1.75% to 109, $3 rose. /Container.

Both Brent and WTI crude oil commodities rose for the past week, posting their 5th straight monthly gain. Brent crude ended the month up 1.3%, while WTI ended the month up 4.4%.

Experts said that due to the drop in oil supplies from Russia and Libya, as well as the preparation of Shanghai to reopen after the lockdown to prevent the Covid-19 epidemic, the world oil price has risen again.

As world gasoline and oil prices tend to rise, the domestic gasoline price is likely to be adjusted upwards after the April 30 holiday -1/5. If the forecast is true, the domestic gasoline price will have the first rise after 3 consecutive declines.

In the recent petrol and oil price administration period (April 22), the Ministry of Industry and Trade – Finance decided to increase petrol and oil prices. In particular, the price of gasoline E5 RON 92 increased by VND 660/liter with a maximum selling price of VND 27,130/liter; RON 95 petrol increased by VND 680/liter, the peak selling price was VND 27,990/liter.

Similarly, oil prices have also been adjusted upwards. Accordingly, the price of diesel oil increased by VND 970/liter, kerosene by VND 800/liter and fuel oil by VND 880/kg. After adjustment, the sales price for diesel oil is VND 25,350/liter, kerosene is VND 23,820/liter and heating oil is VND 21,800/kg.

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