Vietnam’s ministries of industry and trade and finance on the evening of March 10 announced new retail fuel prices, effective from 11.45 pm the same day.
The adjustment follows government Resolution 36 issued on March 6, which allows fuel prices to be revised immediately when the base price of widely used petroleum products rises by 7 per cent or more compared with the previous adjustment.
Under the decision, the price of E5 RON 92 petrol increased by VND 1,350 per litre, while RON 95 rose by VND 2,080 per litre. Retail prices are now set at VND 26,570 per litre for E5 RON 92 and VND 29,120 per litre for RON 95.
Diesel prices were raised by VND 480 per litre to VND 30,710 per litre, while kerosene dropped by VND 2,710 per litre to VND 32,380 per litre. Mazut increased by VND 3,380 to VND 24,700 per kilogram.
In this price adjustment, authorities also decided to draw from the fuel price stabilisation fund. The subsidy amounts to VND 4,000 per litre for biofuel petrol and mineral petrol, VND 5,000 per litre for diesel, and VND 4,000 per litre for kerosene and mazut.
Domestic petrol prices have now increased in four consecutive adjustments following a single decline. Over the past week in particular, prices have been raised sharply three times in line with rising global oil markets.
Since the start of the year, petrol prices in Vietnam have increased eight times and fallen four times.
As of the end of the third quarter of 2025, the fuel price stabilisation fund held by 27 major petroleum traders totalled VND 5.617 trillion (about USD 221 million), up nearly VND 3 billion from the previous quarter.
The Ministry of Industry and Trade said it is coordinating with other ministries to propose additional measures to the government, including possible reductions in environmental protection tax and other steps to ensure fuel supply for the economy.
Earlier on March 7, domestic petrol prices had already been raised sharply. E5 RON 92 increased by VND 3,780 per litre to VND 25,220, while RON 95 rose by VND 4,700 per litre to VND 27,040.
Diesel climbed by VND 7,200 per litre to VND 30,230, kerosene increased by VND 8,490 per litre to VND 35,090, and mazut rose by VND 3,830 per kilogram to VND 21,320.
Amid rising tensions in the Middle East, the government on March 9 also issued Decree 72 revising most favoured nation import tariffs on several fuel products and feedstocks to boost supply and stabilise the domestic market.
The MFN tariff was reduced from 10 per cent to 0 per cent on unleaded petrol, including RON 95, and on several fuel blending materials. Duties on diesel and aviation fuel were also cut from 7 per cent to 0 per cent.
Other petrochemical feedstocks such as naphtha, reformate and condensate were likewise reduced to zero tariffs.
The decree takes effect from its signing date until April 30.