Under the latest adjustment, the price of E5 RON 92 gasoline was reduced by VND 1,090 per litre, while RON 95 gasoline fell by VND 1,390 per litre.
Following the cut, E5 RON 92 is priced at VND 23,250 (approximately USD 0.89) per litre and RON 95 at VND 24,150 (approximately USD 0.93) per litre.
Diesel prices were also reduced by VND 1,110 per litre to VND 27,650 (approximately USD 1.06) per litre, while mazut fell by VND 1,040 per kilo to VND 20,440 (approximately USD 0.79) per kilo.
Vietnam’s fuel prices are currently lower than those in neighboring countries sharing land borders with the country.
Many domestic fuel distributors are upgrading distribution systems, storage infrastructure and retail facilities in preparation for the nationwide rollout of E10 biofuel from June 1.
Regarding concerns over the impact of E10 on vehicle engines, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said on May 27 that the transition is part of Vietnam’s strategy for sustainable development, energy security, environmental protection and greenhouse gas emission reduction commitments.
Tan said Vietnam previously maintained both mineral gasoline and biofuel in parallel to allow consumers and businesses time to adapt while improving supply infrastructure and technical systems.
However, he noted that experience from many countries showed maintaining too many fuel types simultaneously over a long period could increase logistics, storage and distribution costs, create difficulties for fuel retailers and reduce the effectiveness of green energy transition policies.
