The popular fuel E10 RON95 dropped 4.35% from a week ago to VND27,020 (US$1.04) per liter.
E5 RON92 fell 2.64% to VND26,970. Diesel declined 0.07% to VND29,100.
The Ministry of Industry and Trade and the Ministry of Finance said global fuel markets in recent days have been influenced by an agreement on Russian diesel exports to the U.S. and OPEC’s further downward revision to its oil demand growth forecast for this year.
RON 95 gasoline fell 5.4% to $145.7 a barrel, while diesel declined 1.1% to $165.1 a barrel. Fuel oil rose 7.1% to $771 a metric ton.
The Ministry of Industry and Trade is finalizing a draft decree on fuel trading that would allow businesses to calculate and set their own selling prices, replacing the current system under which the government announces price caps every seven days.
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An employee refills a motorbike at a fuel station in Hanoi, March 2026. Photo by Read/Giang Huy |
Under the draft, major fuel traders must publicly announce when new prices will take effect at least 30 minutes in advance, specifying the exact hour and minute to prevent early price increases or delayed reductions.
All notices and data concerning announcement times, price updates and related transactions must be retained.
The draft also aims to reduce the number of intermediaries, give fuel distributors greater autonomy and promote competition.
The ministry proposes tightening supply capacity requirements for major fuel traders, including requiring a minimum annual total supply of 300,000 cubic meters or metric tons, to restructure the market and ensure adequate fuel supplies.