HCMC – The ministries of Industry-Trade and Finance have decided to cut fuel prices further from 3 p.m. today, July 24.
The price of RON 95-III, the most popular gasoline in Vietnam, declined by nearly VND220 to VND19,710. E5 RON 92 saw a reduction of VND200, settling at VND19,280 per liter.
Heavy oil experienced a smaller decline of VND100, bringing its price to VND15,380 per kilogram.
In contrast, diesel climbed VND330 to VND19,130 per liter, while kerosene increased by VND200 to VND18,630 per liter.
The two ministries have maintained their policy of not imposing a surcharge on any fuel type, and local fuel traders are not allowed to tap into the price stabilization fund during this adjustment.
Fuel prices in Vietnam have been revised 31 times this year, including 12 cuts, 11 hikes, and 8 adjustments involving both increases and decreases.
Starting August 1, HCMC, Hanoi City, and Haiphong City will pilot the sale of E10 gasoline, a biofuel blend containing 10% ethanol. This is part of Vietnam’s roadmap to phase out fossil-based fuels and adopt cleaner alternatives nationwide by 2026.
E10 is expected to help reduce carbon emissions, diversify energy sources, and stimulate the domestic ethanol industry. Leading fuel distributors Petrolimex and PVOIL will begin offering E10 next month.
Petrolimex will launch in HCMC, while PVOIL will roll out in Hanoi and Haiphong. Both firms have prepared infrastructure and blending capabilities to ensure supply stability.
