HCMC – HCMC has secured sufficient fuel supply through at least early May 2026, authorities reported, despite a sharp rise in domestic fuel prices.
Nguyen Khac Hieu, deputy head of the Energy Management Division at the HCMC Department of Industry and Trade, told business leaders on March 21 that supply remains stable, helping reduce the risk of market disruption.
Fuel prices have increased rapidly in recent weeks. RON95 gasoline has surpassed VND30,000 per liter, despite the use of the fuel price stabilization fund. Compared with late February, when prices were around VND19,000 per liter, the increase exceeds VND11,000, or more than 60%.
The rise is adding pressure to production, business activity, and consumption. Fuel and gas account for about 7.4% of HCMC’s consumer price index (CPI) basket, according to Hieu, meaning higher prices will directly affect inflation.
Indirect impacts, including higher transport and logistics costs, are also expected to push up goods prices and increase CPI pressure in the coming period.
Despite price volatility, the Department of Industry and Trade assessed that supply will remain sufficient until at least early May, helping stabilize the market.
Hieu noted that lessons from disruptions in 2022 have improved market management. The fuel pricing mechanism has shifted from fixed seven-day adjustments to a more flexible system.
Under current regulations, authorities can adjust prices when fluctuations reach certain thresholds. The threshold for immediate fuel price adjustment has been raised from 7% to 15% for price increases and 10% for decreases, aiming to limit frequent adjustments and maintain market stability.
