RON 95-III, a common gasoline type, rose by 210 Vietnamese dong, reaching 18,840 Vietnamese dong per liter. Similarly, E5 RON 92 also increased by 50 Vietnamese dong, setting its new price at 18,330 Vietnamese dong.
Overall oil products saw increases of 220-760 Vietnamese dong per liter or kilogram compared to the previous adjustment period. Specifically, diesel and kerosene prices each climbed to 18,170 Vietnamese dong per liter.
The price changes for gasoline and oil are as follows:
| Product | New Price | Change |
| RON 95-III gasoline | 18.840 | + 210 |
| E5 RON 92 gasoline | 18.330 | + 50 |
| Diesel oil | 18.170 | + 470 |
| Kerosene | 18.170 | + 220 |
| Mazut oil | 14.630 | + 760 |
Unit: VND per liter or kilogram, depending on type
On January 29, during a regular press conference, Deputy Minister Nguyen Sinh Nhat Tan of the Ministry of Industry and Trade announced that a revised decree on petroleum business is expected in February. This new decree will introduce changes to the approach for managing gasoline and oil prices.
Tan stated that the principle guiding petroleum price management aims to ensure normal business operations for enterprises and respect market developments. This means businesses will be empowered to manage prices, balancing various costs and ensuring petroleum supply across different regions. Prices will fluctuate in line with global market trends, with appropriate adjustment cycles.
The petroleum price stabilization fund will be centralized into a State account, separate from the State budget. The Ministry of Industry and Trade, in coordination with other ministries, is developing a plan for stabilizing petroleum prices in accordance with price laws. The Prime Minister will approve the plan and criteria for using this fund.
Regarding E10 biofuel, Tan reiterated the nationwide implementation roadmap starting June 1. The Ministry of Industry and Trade will allocate supply to businesses for preparation. The authorities have consulted with experts, manufacturers, and relevant industry associations, confirming that "E10 gasoline is usable".
According to the plan, in March and April, the Ministry of Industry and Trade will inspect production and blending facilities to ensure adequate infrastructure for E10 biofuel consumption.
* Further updates will follow.
Phuong Dung
