HCMC – Vietnam’s Ministry of Industry and Trade said fuel prices may be announced at night in certain exceptional adjustment periods to reflect updated global data, reduce policy lag, and respond promptly to sharp international price movements.
The ministry said late-night price announcements would not be applied regularly but only in abnormal adjustment cycles, in line with Government resolutions allowing immediate action when base prices rise by over 15% or fall by more than 10%.
Nguyen Anh Tuan, head of the petroleum and gas trading division under the Domestic Market Management and Development Agency, said global fuel prices fluctuate continuously based on international trading cycles. Announcing prices at the end of the day allows authorities to update the latest Platts Singapore data to determine base prices more accurately.
Tuan said midnight is considered a suitable time for nationwide implementation to avoid disruptions during peak business hours and to limit speculation, hoarding, or arbitrage.
In abnormal periods of rapid market fluctuations, the timing is intended to ensure timely policy response and help stabilize market sentiment and control spillover impacts.
The ministry acknowledged concerns about inconvenience for businesses and consumers and said it would continue refining the pricing mechanism, including studying adjustments to announcement hours.
On supply, the ministry said fuel imports from the Middle East are being implemented largely as planned, despite some shipment delays due to transport disruptions. In March, enterprises imported more than 3.2 million cubic meters, with inventories sufficient to ensure supply for April and May.
Additional imports from Russia have been secured to supplement domestic refinery output and reduce risks. The ministry has also prepared pricing scenarios under a potential oil price increase to US$200 per barrel to ensure supply continuity and maintain macroeconomic stability.
