The Ministry of Industry and Trade and the Ministry of Finance said RON 95-III petrol prices were reduced by VND 280 to VND 24,070 (approximately USD 0.93) per litre.
E5 RON 92 biofuel fell by VND 660 to VND 23,130 (approximately USD 0.89) per litre.
Oil products also recorded lower prices compared with the previous adjustment period. Diesel prices dropped by VND 270 to VND 27,220 (approximately USD 1.05) per litre, while mazut declined by VND 590 to VND 20,580 (approximately USD 0.79) per kilogramme.
Vietnam has revised domestic fuel prices 21 times since late February. During that period, RON 95-III petrol prices increased 11 times, fell eight times and remained unchanged twice. Diesel prices rose nine times, decreased 10 times and stayed stable during two adjustment rounds.
Currently, taxes on petrol, oil and aviation fuel, including environmental protection tax, special consumption tax and value added tax, remain at zero until the end of June under a resolution passed by the National Assembly of Vietnam.
Import tariffs on fuel products are also being maintained at zero per cent until June 30 under a government resolution.
The continuation of low import taxes is intended to help businesses access alternative fuel supplies as supply chains in traditional markets such as South Korea and ASEAN countries face disruptions linked to military conflict in the Middle East.
