The ministries of industry and trade and finance increased the price of E5 RON 92 petrol by VND 1,920 per litre and RON 95 petrol by VND 2,190 per litre.
Following the adjustment, the retail price of E5 RON 92 petrol rose to VND 21,440 per litre, while RON 95 petrol increased to VND 22,340 per litre.
Other fuels also recorded steep rises. Diesel climbed by VND 3,760 per litre to VND 23,030 per litre, kerosene increased by VND 7,140 per litre to VND 26,600 per litre, and mazut rose by VND 1,810 per kilogramme to VND 17,490 per kilogramme.
Authorities maintained the policy of neither allocating nor spending from the petrol price stabilisation fund during the latest adjustment.
Domestic petrol prices have now increased in two consecutive revisions following one decline. Since the start of the year, prices have risen six times and fallen four times.
The escalation of tensions involving the US, Israel and Iran has disrupted global oil and gas flows, placing pressure on energy-importing economies including Vietnam.
Despite the price surge, major energy companies said domestic supply remains secure.
Vietnam National Petroleum Group said inventory levels across its system at the start of March complied with national petrol trading regulations and were sufficient to meet market demand.
The company has arranged supply plans for 2026, signing contracts with two domestic refineries while also scheduling imports. During the first 10 days of March alone, fuel imports increased by about 50 per cent compared with the monthly average.
Vietnam National Oil and Gas Group said it had instructed subsidiaries to increase reserves, maintain refinery operations and prepare additional import options to ensure supply stability in the coming months.
At Binh Son Refining and Petrochemical Joint Stock Company, which manages the Dung Quat Oil Refinery, about 30–35 per cent of crude oil input is currently imported from multiple regions.
The company has signed contracts to purchase about three million barrels of crude oil for the March-May period to maintain refinery operations at 118-120 per cent of design capacity.
