Vietnam raises fuel prices sharply again

E5 RON92 gasoline was capped at VND27,177 (US$1.03) per liter, up VND4,673 ($0.18), while RON95-III rose to VND30,690 ($1.17) per liter, up VND5,115 ($0.19).

Diesel 0.05S increased to VND33,420 ($1.27) per liter, up VND6,395 ($0.24), and kerosene to VND35,926 ($1.34) per liter, up VND8,994 ($0.34).

Mazut 180CST 3.5S was capped at VND22,189 ($0.84) per kg, up VND3,528 ($0.13).

Authorities used the fuel price stabilization fund at between VND3,000 ($0.11) and VND4,000 ($0.15) per liter or kg, depending on the product.

The increase follows five consecutive daily pricing adjustments between March 10 and March 14, including two unchanged sessions, two increases, and one decrease.

The adjustments track recent fluctuations in global refined fuel prices and Vietnam’s market-based pricing mechanism with state management.

Global oil prices have been volatile in recent weeks due to escalating conflicts in the Middle East since February 28 and concerns over supply disruptions through key shipping routes, with crude rising above $100 per barrel, according to industry data.

Vietnam’s Prime Minister Pham Minh Chinh has directed authorities to ensure fuel supply and prevent shortages, while enforcing measures against hoarding and price manipulation.