Why will gas prices continue to decrease from August 1?

There is a basis for the reduction to continue, while reducing taxes and fees to support life and production after the pandemic. But currently, only businesses in the petroleum industry are jubilantly benefiting.

Heading for the 4th consecutive decrease

As of July 28, the price of finished gasoline products on the Singapore market is still lower than in the last operating period (July 21), so it is possible that gasoline prices in the next period may decrease further, it is expected. expected on August 1.

Specifically, the Ministry of Industry and Trade said the price of A95 gasoline imported from Singapore has dropped to only 107 USD/barrel. This is a very strong price drop over the past 5 months.

This level is equivalent to the price on February 4, 2022, when the RON 95 gasoline price was 24,360 VND.

Imported gasoline prices decreased because global crude oil prices fell below 100 USD/barrel for a long time. Currently, WTI oil still maintains its price around 95 USD/barrel.

According to experts, oil prices cannot increase strongly because gasoline demand in the US is still decreasing. Meanwhile, countries in the European Union have agreed on a plan to reduce oil demand to cope with tight oil supply.

Back to domestic gasoline prices, since the beginning of July until now, domestic gasoline prices have been continuously lowered 3 times with a total decrease of nearly 7,000 VND. With imported gasoline prices still low as they are today, domestic gasoline prices are likely to decrease for the fourth consecutive time.

Reduced suffering for the people, but now only businesses are jubilant

People hope that the reduction will continue, while reducing taxes and fees to support life and production after the pandemic. But currently, only businesses in the petroleum industry are benefiting from the recent gasoline price fever.

Specifically, thanks to gasoline prices rising to record levels in the second quarter, many manufacturers and distributors of this product recorded joyful business results.

Binh Son Refining and Petrochemical Joint Stock Company – BSR has just announced its second quarter financial report with record revenue. Specifically, the unit operating Dung Quat Oil Refinery recorded nearly VND 52,400 billion in net revenue, an increase of 88% over the same period last year. This is the largest revenue in corporate history and surpasses many large corporations.

After deductions, the business’s net profit after tax was 9,910 billion VND, while the same period last year was just over 1,600 billion VND, or about 6 times more profit.

In the first 6 months of the year, Binh Son petrochemical refinery recorded revenue of 87,000 billion VND, up 78% over the same period and net profit of more than 12,200 billion VND. While in the same period, the profit was only more than 3,500 billion VND, 3.5 times more.

Explaining the reason for the sharp increase in profits, business leaders said that the continued increase in crude oil and product prices has created many advantages for the company’s production and business situation in the second quarter.

Similarly, thanks to gasoline prices rising to record levels, Petrolimex Petrochemical Corporation (PLC) also said that in the second quarter, corporate profit after tax increased by 30.37% over the same period last year, reaching 73.06%. billions dong. In the first 6 months of the year, the company’s net profit after tax was 96.59 billion VND.

Not only manufacturers benefited, due to record price increases in the petroleum market in the second quarter, many retailers also recorded a spike in revenue.

With Petrolimex, the Group’s business situation has recovered significantly after the dismal results of the first quarter. Petroleum output for sale reached 5.9 million m2, completing 48% of the plan.

Consolidated pre-tax profit in the first 5 months of the year has completed 44% of the year plan, expected to reach 1,340 billion VND. Particularly, in the first 2 months of the second quarter, the business earned a pre-tax profit of 770 billion VND, double the results achieved in the previous quarter.

Similarly, Dong Thap Petroleum Trading Joint Stock Company (Petimex) – one of the 33 largest petroleum trading hubs in the country also recorded a sharp increase in revenue in the second quarter. Specifically, this retailer also recorded more than 6,119 billion VND in net revenue, while the same period last year was only 2,652 billion VND, an increase of 130%.

According to the second quarter business results report of Petroleum Materials Joint Stock Company (Comeco) – owner of 45 petrol stations in Ho Chi Minh City, Long An… also recorded 1,368 billion VND in revenue, an increase of nearly 2 times compared to the same period last year. This retailer’s after-tax profit is still at more than 11 billion VND, equivalent to the same period last year.

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *