Recent fuel price increases triggered by escalating Middle East tensions are placing fresh pressure on production and business as costs rise significantly.
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.
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.
Domestic petrol prices increased slightly while the price of diesel reduced from 15:00 on Thursday following the latest price adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
As Thursday, May 1, 2025, coincides with the Labour Day holiday, the next price adjustment following the session on April 24 will be postponed to May 5, 2025.
The Government proposed the operation of the petrol price stabilisation fund should be maintained because it remained an effective tool to regulate petrol prices.
Retail petroleum businesses have asked to stop contributing to the petrol price stabilisation fund, increasing the commission to reduce losses and permanently withdrawing the license of unprofitable retailers.