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Vietnam cuts retail petrol prices sharply from November 1

Vietnam has sharply reduced retail petrol prices from November 1, following a decision by the ministries of Finance and Industry and Trade.

Vietnam cuts retail petrol prices sharply from November 1 - 1

Staff refuel a vehicle at a petrol station in Ho Chi Minh City (Photo: An Vi).

Under the adjustment, E5 RON 92 petrol fell by VND 1,800 per litre, while E10 RON 95 dropped by VND 1,580. The new maximum retail prices are VND 24,220 (USD 0.93) and VND 24,150 per litre, respectively.

Diesel prices remained unchanged at VND 30,240 (USD 1.16) per litre, while mazut stayed at VND 23,590 per kilo.

Vietnam has also introduced a zero per cent special consumption tax on all types of petrol from November 1, 2026, to March 31, 2027. Diesel and mazut are not subject to this tax and are therefore not directly affected by the policy.

The latest adjustment reverses a sharp increase in domestic petrol prices just one trading session earlier. Despite the changes, Vietnam's fuel prices remain lower than those in many other countries in the region.

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