HCMC – Vietnam’s fuel prices were cut across the board from 3 p.m. on May 14, with reductions ranging from VND268 to VND656 per liter or kilogram. Following the adjustments, the price of RON95-III gasoline fell to VND24,078 per liter.
The price of E5 RON92 biofuel dropped by VND656 per liter to VND23,134 per liter. Meanwhile, RON95-III, the popular gasoline grade in the domestic market, fell by VND276 per liter to no more than VND24,078 per liter.
The diesel price decreased by VND268 per liter to VND27,226 per liter, while heavy fuel oil dropped by VND587 per kilogram to VND20,585 per kilogram.
In the latest price adjustment cycle, the ministries of Industry and Trade and Finance again decided not to make contributions to or use the petroleum price stabilization fund.
The ministries said the adjustments were based on global fuel market movements and current fuel trading regulations, aiming to balance the interests of the State, businesses and consumers.
The Ministry of Industry and Trade said it would continue coordinating with relevant agencies to strengthen inspections and supervision of fuel supply obligations among major petroleum distributors. Authorities warned that violations causing supply disruptions or price manipulation would be dealt with strictly.
The ministry added that it would continue closely monitoring market developments and advising the Government on appropriate price stabilization measures in the coming period.
