On January 9, WTI crude oil price decreased to 70.597 USD/barrel, equivalent to a decrease of 0.25%; Brent oil price decreased to 76.201 USD/barrel, equivalent to a decrease of 3.25% compared to the previous trading session.

Although world crude oil prices fell slightly at the beginning of the week, last week, oil prices recorded the first week of increase in 2024 with a relatively high increase. Specifically, Brent oil increased by 1.65 USD, WTI oil increased by nearly 2 USD/barrel.

Because domestic gasoline prices are linked to world gasoline prices, according to forecasts from a number of key gasoline trading enterprises in Hanoi, gasoline prices are expected to increase simultaneously in the adjustment session until January 11.

Specifically, the price of RON 95 gasoline is forecast to increase by VND250/liter; E5 RON 92 gasoline is forecast to increase by VND150/liter; DO oil is forecast to increase the most by VND350/liter. The above forecast prices do not take into account the agency regulating gasoline prices to set aside or spend the gasoline price stabilization fund.

If the regulatory agency allocates the stabilization fund, the price of gasoline will increase more strongly, but if the agency spends the stabilization fund, the price of gasoline will increase less.

Currently, the retail price of gasoline is applied according to the adjustment period on January 4. Accordingly, RON 95-III gasoline costs VND 21,916/liter, E5 RON92 gasoline costs VND 21,006/liter, and DO oil costs VND 19,368/liter.