According to the plan, the Ministry of Industry and Commerce and the Ministry of Finance will periodically adjust the retail prices of petrol tomorrow (May 8).
The manager of an important oil distribution company in the South said that after the previous adjustment period, crude oil prices have continued to fall at the lowest level since the beginning of 2021, and that there was recently a slight recovery.
On May 6, the price of petrol imported on the Singapore market was 74.97 USD/barrel for Ron 95 petrol, down more than 1.87 USD/barrel compared to 3 days ago; Ron 92 petrol is 73.46 USD/barrel, down more than 1.7 USD/Barrel. Consequently, petrol prices on the internal market should probably continue to decrease during the adjustment period of tomorrow.
More specifically, petrol prices should drop from around 400 to 550 VND/liter, diesel prices could drop from 600 to 750 VND/liter. If the Ministry of Industry and Trade and the Ministry of Finance jointly use the Stabilization Fund, petrol prices could drop more.
In addition, the owner of a fuel distribution company in the North also predicted that petrol prices will continue to drop during the management period of tomorrow. On May 7, gasoline discounts in certain warehouses were 1,450 to 1,700 VND/liter.
If the forecasts are good, the prices of domestic gasoline at 95 ron should lower for two consecutive sessions after a single increase. Currently, the price of this fuel is still at its lowest level for 4 years, equivalent to May 2021. Since the beginning of the year, petrol RON 95 has increased 9 times and decreased 9 times. The price of diesel has increased 8 times, decreased 9 times and has remained unchanged once.
-During the last management session of May 5, the management agency decided to reduce the price of petrol E5 Ron 92 to 19 150 VND/liter by 80 VND/liter; Essence Ron 95 decreased by 50 VND/liter, to 19,580 VND/liter. Likewise, the price of diesel decreased by 170 VND/liter to 17,350 VND/liter, that of kerosene decreased by 150 VND/liter to 17,560 VND/liter; Mazout oil decreased from 330 VND/kg to 16,190 VND/kg.
On the global market, oil prices have recently continued to decrease due to the prudent feeling of the market before the OPEC+ meeting (organization of oil exporting countries and allies) on production policy, as well as concerns about the global economic recession.
However, the price of this raw material increased by around 3 % during the May 6 negotiation session, after reaching its lowest level in four years. This increase has been fed by a number of positive factors, including signs of stronger demand in Europe and China. In addition, oil production in the United States has shown signs of decline, some companies that have announced a reduction in the number of drilling platforms due to low oil prices, according to Reuters.
Oil prices were also supported by the climbing of tensions in the Middle East and by a lower US dollar. In addition, forecasts for a decrease in raw oil stocks in the United States also contributed to rampting prices, helping the market to straighten after a series of significant drops due to the increase in production of OPEC+.
According to data from Trading Economics at 6:30 am on May 7, the price of oil WTI was exchanged at $ 59.58 per barrel, up 2.24 % compared to last week; Likewise, Brent oil was also $ 62.58 per barrel, up 2.1 %.
Source : https://dantri.com.vn/kinh-doanh/gia-xang-dau-ngay-mai-se-giam-manh-20250507064151141.htm
