Vietnam's ministries of Industry and Trade and Finance raised retail fuel prices from 3 pm on July 30 under the latest fuel price adjustment.
The authorities increased the price of E5 RON 92 petrol by VND 1,500 (USD 0.06) per litre and E10 RON 95 petrol by VND 1,420 (USD 0.05) per litre. Following the adjustment, the retail price of E5 RON 92 rose to VND 22,380 (USD 0.85) per litre, while E10 RON 95 increased to VND 22,850 (USD 0.87) per litre.
Diesel prices increased by VND 1,860 (USD 0.07) per litre to VND 27,620 (USD 1.05) per litre, while mazut rose by VND 910 (USD 0.03) per kilo to VND 16,470 (USD 0.63) per kilo.
Authorities also continued to draw on the fuel price stabilisation fund, providing subsidies of VND 500 (USD 0.02) per litre for petrol, VND 1,000 (USD 0.04) per litre for diesel and VND 500 (USD 0.02) per kilo for mazut.
The latest adjustment marked the third consecutive increase in fuel prices following one previous reduction. Even after the latest rise, Vietnam's fuel prices remain lower than those in several neighbouring countries.
In recent weeks, fuel retailers in several localities have reported difficulties sourcing diesel.
Responding to the concerns, the Petrolimex said diesel demand across its distribution network had surged sharply, particularly in northern Vietnam. Average daily diesel sales in July increased 41.9 per cent compared with the same month last year.
The company attributed the pressure on supplies to disruptions in cargo flows through the Strait of Hormuz following conflict involving the United States and Iran, making it more difficult for some fuel traders to secure imports. Rising demand in several areas also led more customers to purchase fuel from Petrolimex outlets, placing additional pressure on logistics and inventory replenishment.
Petrolimex said the disruption was temporary and localised rather than a nationwide shortage. The company said it was increasing procurement and redistributing supplies between regions to ensure adequate fuel for production, transport and essential consumer demand.
Amid the developments, the Ministry of Industry and Trade on July 23 instructed market surveillance authorities nationwide to strengthen inspections and monitoring of diesel trading activities.
