Due to coinciding with the Tet holiday schedule, this week's fuel price adjustment took place today, 20/2, one day later than usual. Accordingly, RON 95-III gasoline, a common type on the market, decreased by 140 dong, reaching 19.150 dong per liter. Similarly, E5 RON 92 also dropped by 200 dong, with a new price of 18.630 dong.
Conversely, all oil products saw increases of 60-300 dong per liter or kilogram compared to the previous adjustment period. Specifically, diesel and kerosene each rose to 18.520 dong and 18.610 dong respectively.
Fuel prices changed as follows:
| Item | New price | Change |
| RON 95-III Gasoline | 19.150 | - 140 |
| E5 RON 92 Gasoline | 18.630 | - 200 |
| Diesel oil | 18.520 | + 60 |
| Kerosene | 18.610 | + 100 |
| Mazut oil | 15.860 | + 300 |
Unit: dong/liter or kg, depending on type
The Ministry of Industry and Trade stated that the global fuel market has recently been influenced by several factors: the IEA lowered its forecast for global oil demand growth this year; US crude oil inventories increased sharply; tensions between the US and Iran showed signs of escalating; and OPEC+ plans to increase oil production from April this year.
Consequently, global fuel prices generally decreased compared to the previous period. The average price of RON 95 gasoline fell by 1,1% to 75,7 USD per barrel. In contrast, diesel oil increased by 0,3%, and mazut oil by 2,3%.
A decree on fuel business is expected to be issued this month, which will empower businesses to manage fuel prices. This means fuel prices will fluctuate according to global developments, with an appropriate adjustment cycle.
By the end of last year, there were 26 onshore fuel traders and five aviation fuel traders. The number of active fuel distributors was 252. This indicates a reduction of two major traders and 24 distributors compared to last year.
Fuel consumption last year was estimated at 26,4 million cubic meters or tons, an increase of 1,85% compared to 2024. Inventory at the end of the year stood at 1,7 million cubic meters or tons.
This year, the total minimum fuel supply allocated to major distributors is 31,7 million cubic meters or tons. According to the Ministry of Industry and Trade, the global political and economic situation remains unpredictable, potentially impacting fuel supply and prices. They expressed concern that localized fuel shortages could occur. Therefore, regulators will closely monitor the global and domestic supply, demand, and prices of gasoline. Concurrently, they will coordinate with ministries, sectors, and localities to advise the Government on timely solutions.
Phuong Dung
