The Ministry of Industry and Trade and the Ministry of Finance increased the retail price of E5 RON 92 petrol by VND 3,780 per litre and RON 95 petrol by VND 4,700 per litre.
Following the adjustment, the price of E5 RON 92 petrol rose to VND 25,220 per litre, while RON 95 petrol climbed to VND 27,040 per litre.
Diesel increased by VND 7,200 per litre to VND 30,230 per litre. Kerosene rose by VND 8,490 per litre to VND 35,090 per litre, while mazut increased by VND 3,830 per kilogramme to VND 21,320 per kilogramme.
The latest revision marked the third consecutive increase in domestic fuel prices following a single reduction. Notably, the market saw two sharp price hikes in the same week, reflecting movements in global oil prices.
Since the beginning of the year, petrol prices in Vietnam have increased seven times and decreased four times.
Earlier, on March 5, domestic fuel prices also rose significantly. E5 RON 92 petrol increased by VND 1,920 per litre to VND 21,440 per litre, while RON 95 petrol rose by VND 2,190 per litre to VND 22,340 per litre.
Diesel increased by VND 3,760 per litre to VND 23,030 per litre, kerosene by VND 7,140 per litre to VND 26,600 per litre, and mazut by VND 1,810 per kilogramme to VND 17,490 per kilogramme.
Despite the price increases, discounts at many fuel warehouses remained at zero, making it difficult for some retailers to secure supplies.
Rising geopolitical tensions involving the United States, Israel and Iran have disrupted global oil and gas flows, directly affecting energy-import-dependent economies such as Vietnam.
The Ministry of Industry and Trade said domestic supply remains largely secure. Vietnam’s crude oil production currently stands at about 180,000 barrels per day, with roughly 150,000 barrels supplied to the Dung Quat refinery.
Dung Quat refinery is operating at about 118 per cent of capacity and is expected to maintain this level until at least the end of April, ensuring supply for key traders. The Nghi Son refinery and petrochemical complex is also operating steadily with a stable raw material supply plan.
Authorities said that, together with output from the two domestic refineries and regulated import volumes and reserves, fuel supply for the market in March is largely guaranteed.
However, regulators warned that if tensions in the Middle East persist into April, the petrol and oil market could face greater challenges. The government and relevant ministries are working to remove obstacles and facilitate production and imports to ensure stable supply.