HCMC – The ministries of Industry-Trade and Finance increased the retail prices of fuels nationwide, effective 3 p.m. today, December 4, while most oil products saw price reductions.
The price of E5 RON92 rose by VND534 to VND19,822 per liter, and RON95-III increased by VND451 to VND20,460 per liter. In contrast, diesel dropped by VND420 to VND18,380 per liter, kerosene fell by VND580 to VND18,893 per liter, and heavy fuel oil declined by VND52 to VND13,436 per kilogram.
Under Circular 50 issued by the Ministry of Industry and Trade, all mineral gasoline will be required to transition to E10 starting in June 2026, while E5 RON92 will remain in use until the end of 2030. Since August 1, Petrolimex and PVOIL have been piloting E10 sales in Hanoi, HCMC and Haiphong, with prices adjusted under the ministry’s fuel price management cycle.
Global fuel markets have been volatile over the past week following OPEC+’s decision to maintain oil production levels through 2026, rising tensions between the U.S. and Venezuela, and the ongoing military conflict between Russia and Ukraine. Benchmark prices currently stand at US$79.5 per barrel for RON92, US$81.8 per barrel for RON95, US$86 per barrel for diesel, and US$344.5 per ton for heavy fuel oil.
