Petrol prices forecast to fall 9% on Oct.11

The retail petrol prices could fall 9% to less than 0.94 USD per litre on October 11. (Photo: VNA)

Hanoi (VNA) – The Vietnam Petroleum Institute (VPI) forecast that the retail petrol prices could fall 9% to less than 23,000 VND (0.94 USD) per litre on October 11 if the Ministries of Finance-Industry and Trade keep the gasoline price stabilisation fund unchanged.

According to the institute’s prediction, which was based on Machine Learning that deploys Artificial Neural Network (ANN) and Supervised Learning models, E5 RON 92 and RON 95 will cost 21,280 VND per litre and 22,465 VND per litre, respectively, down 2,220-2,375 VND.

Meanwhile, the retail price of oil may fall over 6%, with that of diesel dropped 1,433 VND to 22,157 VND per litre, kerosene 1,810 VND to 22,000 VND per litre, and mazut 1,161 VND to 16,289 VND per litre.

Machine Learning predicted that the management agencies may not extract money from petrol sales for or use the price stabilisation fund./.

VNA