With the average price of gasoline on the Singapore market in the operating period from August 12th increasing by about 5%, tomorrow’s gasoline price (August 27th) is forecasted to increase by 500 VND / liter.
According to the petrol price management cycle, tomorrow (August 27th), the Ministry of Industry and Trade – Finance will announce the base price for petroleum products for the operating period from August 27th.
Data from MOIT on August 20th shows that the price of gasoline on the Singapore market in the operating period from August 12th tends to increase. Specifically, the average price of RON 92 gasoline used to blend E5 RON 92 gasoline on the Singapore market is 47.42 USD / barrel, an increase of about 5% compared to the previous operating cycle; while the average RON 95 gasoline price on the Singapore market is 48.64 USD / barrel, also increasing by 5% compared to the previous operating period.
Notably, in the operating period from August 12th, at a time, the price of RON 95 gasoline was recorded up to nearly 50 USD / barrel.
With the above developments, in a discussion with the press, the leader of a major petroleum enterprise said that if the executive agency does not adjust the spending levels, deducting from the Petroleum Price Stabilization Fund, the gasoline price tomorrow (August 27th) can be increased by about 500 VND / liter. Meanwhile, oil price can be adjusted down by about 120 – 140 VND / liter.