According to regulations, tomorrow afternoon (August 8) is the time to regulate retail gasoline prices according to Decree 80/2023 amending and supplementing a number of articles of Decree 95 and Decree 83.

On the world market, world oil prices last week recorded the fourth consecutive week of decline, with Brent oil falling by 4.32 USD/barrel, and WTI oil falling by more than 3.64 USD/barrel.

This week, world oil prices, after falling in the first trading session of the week, turned around and increased slightly in the second trading session.

At the beginning of the trading session on August 7, world oil prices reversed and decreased slightly. According to data from Oilprice, at 7:26 a.m. on August 7 (Vietnam time), Brent oil was traded at 76.26 USD/barrel, down 0.29% compared to the previous session. Meanwhile, WTI oil was at 72.95 USD/barrel, down 0.34% compared to the previous session.

In the Singapore market, in the recent period, the average price of finished gasoline in this market decreased compared to the previous period.

Based on the developments in world oil prices, leaders of some oil companies believe that domestic gasoline prices at the adjustment session tomorrow (August 8) are likely to be adjusted down.

Oil and gas companies predict that if the regulatory agency does not affect the Oil and Gas Price Stabilization Fund (BOG Fund), domestic gasoline prices could decrease by 700-920 VND/liter. Diesel prices are expected to decrease by 750-900 VND/liter.

Accordingly, the price of E5 gasoline may drop below 21,000 VND/liter. The price of RON 95 gasoline may drop below 22,000 VND/liter.

In case the Ministry of Finance and Industry and Trade deducts from the BOG Fund, the gasoline price is likely to decrease less.

If the above forecast is correct, domestic gasoline products will record their fifth consecutive decrease.

In the most recent gasoline price adjustment period (August 1), the prices of gasoline and oil were adjusted downward by the Ministry of Industry and Trade and the Ministry of Finance.

Specifically, the price of E5 gasoline decreased by 290 VND/liter, the selling price is 21,610 VND/liter. The price of RON 95 gasoline decreased by 280 VND/liter, the selling price is 22,600 VND/liter.

Similarly, diesel price was also adjusted down by 320 VND/liter, selling price at 19,870 VND/liter.

Kerosene price decreased by 230 VND/liter, selling price is at 20,090 VND/liter.

Gasoline prices today, August 7, 2024, turned down. Gasoline prices today, August 7, 2024, on the international market turned down after a slight increase in the previous trading session.