Fuel prices adjusted again amid Middle East tensions
Vietnam adjusted retail fuel prices from 10 pm on March 12 as authorities continued efforts to stabilise the market amid tensions in the Middle East.
Under the latest adjustment by the ministries of Industry and Trade and Finance, E5 RON 92 petrol fell by VND 450 per litre to VND 22,500 (USD 0.85), while RON 95 rose by VND 330 to VND 25,570 per litre.
Diesel increased by VND 550 to VND 27,020 per litre and kerosene climbed by VND 2,520 to VND 26,930 per litre. Mazut declined by VND 340 to VND 18,660 per kilogramme.
Authorities also continued to use the petrol price stabilisation fund, spending about VND 4,000 per litre for petrol, kerosene and mazut, and VND 5,000 per litre for diesel.
Under the latest adjustment by the Ministry of Industry and Trade of Vietnam and the Ministry of Finance of Vietnam, E5 RON92 petrol fell by VND 450 per litre to VND 22,500 (about USD 0.85).
RON95 petrol, however, rose by VND 330 to VND 25,570 per litre.
Diesel increased by VND 550 to VND 27,020 per litre, while kerosene climbed by VND 2,520 to VND 26,930 per litre. Mazut declined by VND 340 to VND 18,660 per kilogramme.
Authorities continued to use the fuel price stabilisation fund, spending about VND 4,000 per litre for petrol, kerosene and mazut, and VND 5,000 per litre for diesel.
The adjustment came just a day after a sharp price cut. From 10 pm on March 11, E5 RON92 had fallen by VND 3,620 per litre and RON95 by VND 3,880, while diesel, kerosene and mazut also dropped significantly.
Fuel prices have been revised five times in the past week, an unusually frequent series of adjustments under Vietnam’s pricing mechanism. Since the start of the year, RON95 has increased nine times and decreased five times.
According to the Ministry of Finance of Vietnam, the balance of the fuel price stabilisation fund held by 27 major distributors stood at about VND 5.617 trillion as of the end of the third quarter of 2025.
Amid rising tensions in the Middle East, the government issued Decree 72/2026/ND-CP on March 9, cutting most-favoured-nation import tariffs on several fuel products and input materials to boost supply and stabilise the market.
The decree took effect immediately and will remain in force until April 30. If necessary, the industry ministry may propose extending the measure.
Prime Minister Pham Minh Chinh has also instructed the Ministry of Finance of Vietnam to propose reducing the environmental protection tax on fuel to zero, with a report due to the government on March 12.