Under the latest price adjustment, E5 RON92 petrol fell VND 660 to VND 21,720 a litre, while E10 RON95 dropped VND 530 to VND 22,320.
Diesel fell VND 80 to VND 17,540 a litre, while mazut also declined VND 80 to VND 16,390 a kilogramme.
The ministries of Industry and Trade and Finance also decided to resume contributions to the fuel price stabilisation fund, setting the contribution for petrol at VND 200 a litre.
The government said domestic fuel prices remained lower than those in several neighbouring countries.
Separately, Deputy Prime Minister Pham Gia Tuc has instructed ministries and local authorities to ensure adequate fuel supplies for production, business and consumer demand under all circumstances.
The Ministry of Industry and Trade was told to closely monitor domestic and global markets, particularly diesel supply, prevent shortages and work with distributors to maintain stable supplies and sales.
The ministry was also instructed to finalise a new decree on petroleum trading aimed at reducing administrative procedures, restructuring the distribution network and cutting intermediary stages.
Local authorities were ordered to step up inspections and crack down on hoarding, smuggling and speculation, while ensuring petrol stations do not suspend sales without authorisation.
