Recent fuel price increases triggered by escalating Middle East tensions are placing fresh pressure on production and business as costs rise significantly.
According to an announcement by the Ministry of Industry and Trade effective from 11.45pm Tuesday, the price of RON95-III gasoline rose by VNĐ2,080 per litre to VNĐ29,120.
City officials say the recent rush to petrol stations was driven largely by public anxiety rather than any real supply shortage, as regulators move to stabilise the market.
The retail price of E5RON92 biofuel rose by VNĐ3,777 (US$0.14) to a maximum of VNĐ25,226 per litre. The price of RON95-III gasoline increased by VNĐ4,707 to VNĐ27,0
With Resolution 36 issued on March 6, the Government aims to ensure stable petroleum supply, maintain flexible fuel price management and optimise the use of domestic gas resources to prevent fuel shortages.
The Ministry of Industry and Trade on Friday required key oil and gas traders, producers and distributors to implement measures to ensure domestic fuel supply amid the complex situation in the global oil market.
As planned, during March and April 2026, the ministry will conduct inspections and assessments of the readiness of key petroleum traders, production and processing enterprises, as well as infrastructure conditions and quality standards.
The petroleum market is set for a major overhaul this year as the power to decide the retail prices is proposed to be handed to businesses, replacing the current state management system in a move toward a more market-based mechanism.
E5 RON92 biofuel is capped at VNĐ18,283 (US$0.7) per litre, a decrease of VNĐ93, while RON95-III petrol will be sold at no more than VNĐ18,631 per litre, down VNĐ81.
Việt Nam’s petrol and oil prices moved in opposite directions on Thursday afternoon following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
The draft fuel economy standards at 4.83 litres per 100 km by 2030 must push nearly all gasoline – powered car models off the market, Vietnam Automobile Manufacturers Association (VAMA) said, calling for a roadmap with softer fuel economy rules.
E5 RON92 petrol is now capped at VNĐ19,851 (US$0.75 USD) per litre, up VNĐ80 from the previous adjustment, while RON95-III petrol costs VNĐ20,439 per litre, up VNĐ76.