The inter-ministerial committee of the Ministry of Industry and Trade and the Ministry of Finance announced that RON 95-III gasoline, a common market type, will hold at 25,570 VND per liter. E5 RON 92 is also maintained at 22,500 VND.
Similarly, diesel and kerosene prices are stable at 27,020 VND and 26,930 VND per liter, respectively, matching the march 12 adjustment period.
This marks the 4th consecutive adjustment period where the price stabilization fund has been used for petroleum products. The Ministry of Industry and Trade stated that maintaining fuel prices aims to stabilize the petroleum market and prevent adverse socio-economic impacts.
Specifically, RON 95-III gasoline, kerosene, and mazut each received a fund allocation of 4,000 VND, with diesel receiving 5,000 VND per liter.
Fuel prices are as follows:
| Item | New Price | Change |
| RON 95-III Gasoline | 25,570 VND | 0 |
| E5 RON 92 Gasoline | 22,500 VND | 0 |
| Diesel | 27,020 VND | 0 |
| Kerosene | 26,930 VND | 0 |
| Mazut Oil | 18,660 VND | 0 |
Unit: VND/liter or kg, depending on the type.
In a dispatch on march 12, Prime Minister Pham Minh Chinh highlighted that the conflict in the Middle East severely impacts the global energy supply chain. Future developments are expected to remain complex, posing risks of supply chain disruptions and energy flow interruptions, which could affect domestic fuel prices and supply.
The Prime Minister has directed the Ministry of Industry and Trade, the Ministry of Finance, and other agencies to accelerate the replenishment of national fuel reserves. They are also tasked with finalizing mechanisms for issuing and allocating these reserves in emergencies.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan confirmed at a meeting earlier this week that mandatory reserves at key enterprises ensure 20 days of supply. He added that Vietnam has not yet needed to use its national reserves, which are typically deployed only in cases of severe import shortages or significant domestic production declines.
Regulators have contingency plans, ensuring domestic fuel sources can meet consumption demand through the end of march.
The Government is also utilizing tax and fee instruments to support the market. The most favored nation (MFN) import tax on gasoline and some blending materials has been reduced to 0%. This measure stabilizes supply and encourages key enterprises to import fuel from markets without free trade agreements (FTAs) with Vietnam.
Furthermore, the Ministry of Finance is proposing to the Government a plan to adjust the environmental protection tax on fuel to 0 VND on march 12. This tax currently stands at 2,000 VND per liter for gasoline (excluding ethanol) and 1,000 VND for oil. Reducing this tax to 0 VND would decrease gasoline prices by an equivalent of 1,000-2,000 VND per liter.
World fuel prices on march 11 showed mixed trends compared to the previous day. The average price of RON 95 gasoline increased by 1.4% to USD 129.2 per barrel; diesel rose by nearly 2%, while mazut decreased by 1.7%.
By Phuong Dung
