Gasoline price tomorrow (August 27th) may increase by 500 VND / liter!

With the average price of gasoline on the Singapore market in the operating period from August 12^th increasing by about 5%, tomorrow’s gasoline price (August 27^th) is forecasted to increase by 500 VND / liter.

According to the petrol price management cycle, tomorrow (August 27^th), the Ministry of Industry and Trade – Finance will announce the base price for petroleum products for the operating period from August 27^th.

Data from MOIT on August 20^th shows that the price of gasoline on the Singapore market in the operating period from August 12^th 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 12^th, 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 27^th) can be increased by about 500 VND / liter. Meanwhile, oil price can be adjusted down by about 120 – 140 VND / liter.