Gasoline Prices Rise as RON 95 Surpasses VND 20,000 per Liter

RON 95 gasoline price climbs above VND 20,000 per liter from August 21, while diesel and kerosene prices continue to decline. No fund adjustment applied.

Gasoline Prices Increase, Diesel Sees Slight Drop

On the afternoon of August 21, the Ministry of Industry and Trade and the Ministry of Finance announced the latest retail fuel price adjustments. In this round, gasoline prices increased slightly, while diesel prices dropped.

Details of the adjustment:

RON 95-III gasoline (most commonly used type) rose by VND 210 per liter, reaching VND 20,090 per liter.

E5 RON 92 gasoline increased by VND 110 per liter, priced at VND 19,460 per liter.

Diesel decreased by VND 170, now VND 17,900 per liter.

Kerosene remains at VND 17,810 per liter, while mazut stays at VND 15,110 per kg.

Price Stabilization Fund Remains Untapped

According to the ministries, there will be no contribution or expenditure from the Price Stabilization Fund for any fuel product during this adjustment cycle. The fund remains positive, with a balance of over VND 6,079 billion as of the end of Q1.

Global Oil Market Factors Driving Price Changes

The Ministry of Industry and Trade attributed this price adjustment to developments in the global oil market between August 14 and August 20, including:

Sharp decline in U.S. crude oil inventories, exceeding forecasts.

Talks between U.S. and Ukrainian leaders about ending the ongoing conflict with Russia.

Continued military tension between Russia and Ukraine.

These factors caused global fuel prices to fluctuate differently across categories, leading to slight increases in gasoline prices and reductions in diesel prices in Vietnam.

Vietnam to Implement E10 Biofuel Nationwide by 2026

The Ministry of Industry and Trade is currently seeking feedback before submitting a roadmap to the government for nationwide adoption of E10 biofuel starting January 1, 2026.

Since August 1, major fuel distributors Petrolimex and PV Oil have been piloting E10 fuel sales in Ho Chi Minh City, Hanoi, and Hai Phong.