The Ministry of Industry and Trade and the Ministry of Finance announced a new adjustment to domestic fuel prices, lowering the retail cost of several petroleum products.
Under the decision, the price of E5 RON 92 petrol was reduced by VND 450 per litre to VND 21,330 per litre.
Diesel prices fell by VND 990 per litre to VND 25,870 per litre, while mazut prices dropped by VND 1,040 per kilogram to VND 18,600 per kilogram.
E10 petrol has not yet been officially designated as a widely-consumed fuel product in Vietnam, allowing fuel distributors to determine their own base prices.
According to petroleum businesses, the retail price of E10 RON 95 petrol was reduced by VND 270 per litre from 3 pm on June 11 to VND 22,060 per litre. E10 RON 95-V, sold primarily through Petrolimex service stations, was lowered to VND 22,960 per litre.
Current fuel prices in Vietnam remain lower than those in neighbouring countries that share land borders with the country, according to industry sources.
Since June 1, Vietnam has implemented the nationwide transition to E10 biofuel in line with the government's roadmap. However, E5 RON 92 petrol will continue to be produced and supplied until the end of 2030.
The latest adjustment extends a recent trend of lower domestic fuel prices as authorities continue to align retail rates with movements in the international energy market.