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Fuel Prices Jump: Vietnam’s fuel prices increased significantly on July 16, after the Ministry of Industry and Trade and the Ministry of Finance announced a new retail fuel price adjustment. The revised prices officially took effect at 3:00 PM on the same day.
The latest adjustment pushed up the prices of petrol, diesel, and fuel oil, with diesel recording the biggest increase of 1,580 VND per liter.
📈 Latest Fuel Prices in Vietnam (Effective July 16)
Following the latest price adjustment, retail fuel prices are:
| Fuel Type | Increase | New Retail Price |
|---|---|---|
| ⛽ E5 RON 92 Petrol | +630 VND/liter | 19,820 VND/liter |
| ⛽ E10 RON 95 Petrol | +550 VND/liter | 20,550 VND/liter |
| 🚛 Diesel | +1,580 VND/liter | 23,320 VND/liter |
| 🛢️ Fuel Oil | +720 VND/kg | 14,450 VND/kg |
Diesel experienced the largest price increase, while petrol prices also climbed after the previous adjustment.
💰 Fuel Price Stabilization Fund Used
During this pricing period, authorities decided to utilize the Fuel Price Stabilization Fund to reduce the impact of rising global fuel costs.
The support included:
- 🚛 1,500 VND/liter for diesel
- 🛢️ 500 VND/kg for fuel oil
Despite using the stabilization fund, domestic fuel prices still increased due to higher international petroleum prices.
Officials noted that Vietnam’s fuel prices remain lower than those in several neighboring countries.
⛽ Why Are Some Petrol Stations Charging Different Prices?
Many drivers have noticed that E10 RON 95-III and E10 RON 95-V are sold at different prices depending on the petrol station.
According to Nguyen Thuy Hien, Deputy Director of the Domestic Market Management and Development Department under the Ministry of Industry and Trade, the government regulates prices only for the country’s most commonly used fuel products.
Following the implementation of Government Resolution 29, E10 RON 95 was officially added to Vietnam’s regulated fuel pricing system.
Currently, the two biofuel products subject to government price regulation are:
- ✅ E10 RON 95
- ✅ E5 RON 92
📊 E10 RON 95 Now Dominates Vietnam’s Fuel Market
Government data shows that E10 RON 95 accounts for around 94–95% of total fuel consumption nationwide.
Meanwhile, E5 RON 92 is still available but is gradually becoming less popular among motorists.
Because demand for certain fuel grades is relatively low, petroleum companies distribute supplies based on local market demand.
As a result:
- ⛽ Not every petrol station stocks every fuel grade.
- 💵 Prices may differ depending on the specific gasoline type available.
🌍 Government Orders Stable Fuel Supply
Earlier this month, the Ministry of Industry and Trade instructed major fuel traders and distributors to ensure a stable nationwide petroleum supply amid ongoing volatility in the global energy market.
Authorities directed businesses to:
- ✅ Meet minimum fuel supply quotas.
- ✅ Diversify supply sources through domestic production and imports.
- ✅ Maintain required reserve inventories.
- ✅ Closely monitor market developments.
The goal is to ensure sufficient fuel supplies for households, businesses, transportation, and industrial production.
🚫 Strict Action Against Hoarding and Supply Disruptions
The Ministry also warned businesses against:
- ❌ Hoarding fuel in anticipation of further price increases.
- ❌ Disrupting the fuel distribution chain.
- ❌ Failing to supply retail stations.
Wholesale distributors have been instructed to maintain adequate supplies for retailers while improving coordination across the distribution network.
Authorities said inspections will be intensified, and any violations of fuel supply regulations will be handled strictly under Vietnamese law.
📌 Key Highlights
✅ Fuel prices increased across Vietnam on July 16.
🚛 Diesel recorded the largest increase of 1,580 VND/liter.
⛽ E5 RON 92 rose to 19,820 VND/liter.
⛽ E10 RON 95 increased to 20,550 VND/liter.
🛢️ Fuel oil climbed to 14,450 VND/kg.
💰 The Fuel Price Stabilization Fund was used to cushion part of the increase.
📈 The government has ordered businesses to maintain stable fuel supplies and prevent hoarding amid global market uncertainty.
Keypoints
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