In the last four price adjustments, domestic gasoline and diesel prices have decreased four times in a row. While global supply fluctuates constantly in the final months of the year, the Ministry of Industry and Trade affirms that domestic gasoline and diesel supplies remain in surplus, with inventories sufficient for the following year.
According to the Ministry of Industry and Trade's 7-month report sent to the press on August 5th, the global oil supply is expected to fluctuate significantly, affecting domestic fuel prices. Factors contributing to this include: the ongoing Russia-Ukraine conflict showing no signs of abating, and continued tensions in the Middle East.
Therefore, the Ministry of Industry and Trade forecasts that in the remaining months of 2024, these factors pose a risk of continued unpredictable fluctuations in the supply and prices of petroleum products worldwide. However, in addition to imported petroleum products, according to the Ministry of Industry and Trade, domestic supply remains sufficient to meet demand.
In the last six months of the year, the two domestic petroleum refineries reported a production plan of approximately 8.26 million tons, equivalent to 9.9 million cubic meters of various petroleum products. Estimated petroleum imports for the entire last six months of the year are 4.5 million tons (equivalent to approximately 5.4 million cubic meters of various petroleum products).
Accordingly, total production and imports in the second half of the year amounted to approximately 12.76 million tons, equivalent to about 15.3 million m³ .
Meanwhile, estimated consumption for the last six months of 2024 is only 13.2 million m³ (an average of nearly 2.2 million m³ /month). Thus, according to calculations by the Ministry of Industry and Trade, the total petroleum supply is still in surplus, with an inventory of 1.8 - 2 million tons.
ANGEL
Source: https://www.sggp.org.vn/nhung-thang-cuoi-nam-nguon-cung-xang-dau-du-thua-post752695.html
