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.
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 theretail petrol prices could fall 9% to less than 23,000 VND (0.94 USD) per litreon 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 VNDper 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 perlitre, and mazut 1,161 VND to 16,289 VND per litre.
Machine Learning predicted that the management agencies may not extract moneyfrom petrol sales for or use the price stabilisation fund./.
The retail prices of petrol have been kept unchanged in the latest adjustment on September 11 by the Ministry of Industry and Trade and the Ministry of Finance.
The artificial intelligence (AI) and machine learning (ML) algorithms of the Vietnam Petroleum Institute (VPI) under the Vietnam Oil and Gas Group (Petrovietnam) forecast that the retail prices of petrol will rise by nearly 4% in the upcoming adjustment on September 21.
Retail prices of petrol were revised down on October 2 in the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance after many consecutive times of increase.
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The retail petrol prices could fall 9% to less than 0.94 USD per litre on October 11. (Photo: VNA) 
