Vietnam gasoline and diesel prices rose on Thursday amid a hike in global fuel prices, but remained cheaper than in neighboring markets.
The popular fuel E10 RON9 rose 2.49% to VND22,660 (US$0.87) per liter. E5 RON92 added 2.83% to VND21,830. Diesel increased by 4.81% to VND28,540.
The global oil market in recent days has been affected by developments in peace negotiations between the U.S. and Iran, as well as continued disruptions to oil shipments through the Strait of Hormuz, according to the Ministry of Industry and Trade and the Ministry of Finance.
Tensions in the Middle East have also intensified after the United Arab Emirates announced the suspension of all trade and financial transactions with Iran, putting additional pressure on fuel prices.
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An employe refills a motorbike at a fuel station in Hanoi in March 2026. Photo by Read/Giang Huy |
These factors have pushed global fuel prices higher in the past seven days. Specifically, the price of each barrel of RON95 rose 4.4% to $116.6, while diesel increased 6.1% to $160.3 a barrel.
Despite the increase, gasoline prices in Vietnam remain lower than those in neighboring countries. Prices are 15% lower than in Cambodia, 23% lower than in Thailand, 29% lower than in China, and 50% lower than in Laos.