HCMC – Retail gasoline prices in Vietnam have continued rising, with the popular RON95-III hitting VND29,120 per liter at maximum.
E5RON92 biogasoline rose by 5.3% to VND26,570 per liter. Diesel oil also edged up by 1.6% to VND30,717 per liter.
In the latest fuel price review, authorities decided to tap the fuel price stabilization fund at a high rate, up to VND4,000–5,000 per liter/kg across various fuel types – to prevent an even steeper fuel price hike.
Without this intervention, RON95 would have surged by over VND6,000 per liter instead of by over VND2,000. The ministries attributed the price spike to production cuts by Gulf exporters and global fuel stockpiling amid disruptions of oil transit through the Strait of Hormuz.
On March 7, E5RON92 rose by VND3,777 per liter to a maximum of VND25,226, while RON95-III jumped by VND4,707 to VND27,047 VND per liter.
