The Ministry of Industry and Trade and the Ministry of Finance cut E5 RON92 by VND 690 and RON95 by VND 440 per litre, bringing prices to VND24,730 and VND26,530, while diesel fell VND 1,940 to VND 42,840 and mazut dropped VND 320 to VND 24,270 per kilogramme.
No funds were drawn from the price stabilisation fund in this adjustment. In the previous review on April 3, the ministries tapped the fund to temper a surge in domestic diesel prices, with support of up to VND 5,000 per litre.
Since the start of the year, RON95 petrol has risen 12 times, fallen eight times and remained unchanged twice. Prices in Vietnam are currently at a moderate level and lower than in neighbouring countries.
Authorities said the outcome reflects close government oversight and flexible pricing measures aligned with global market movements.
The Ministry of Industry and Trade has also suspended provisions related to kerosene in the base price calculation formula until April 28 and is preparing to abolish them under expedited procedures.
Tax measures have supported stabilisation, with environmental tax on petrol (excluding ethanol), diesel and jet fuel cut to zero from March 27 to April 15, alongside VAT exemptions and a reduction of petrol’s special consumption tax to zero.
The Ministry of Finance is proposing to extend tax cuts to kerosene and mazut, including reducing VAT and environmental tax to zero.
Separately, the Ministry of Industry and Trade has urged traders to ensure adequate supply. In an April 6 directive, its domestic market agency called on wholesalers and distributors to meet quotas, diversify sources and maintain sufficient reserves.
