Under a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, domestic fuel prices were revised in line with international price movements and current regulatory mechanisms, while the price stabilisation fund continued to be used to help contain the increase.

RON95 increased by VND4,115 to a maximum of VND30,690 per litre, while E5RON92 rose by VND3,673 to VND27,177 per litre.

Oil products recorded even steeper increases. Diesel prices climbed by VND5,395 to VND33,420 per litre, while kerosene surged by VND7,994 to VND35,926 per litre. Mazut rose by VND2,528 to VND22,189 per kilogram.

To mitigate the impact, market regulators continued to draw from the fuel price stabilisation fund at VND3,000–4,000 per litre or kilogram, depending on the product. This marks the sixth consecutive pricing period in which the fund has been utilised, although at a lower level than in previous cycles.

The latest adjustment reflects rising global refined fuel prices, while maintaining Vietnam’s market-based pricing mechanism under state management.

Vietnam seeks Algeria’s support for energy security amid Middle East tensions

VOV.VN - Amid escalating Middle East tensions disrupting global energy supplies, Vietnamese Prime Minister Pham Minh Chinh called on Algeria to support Vietnam’s energy security during a phone call on March 18 with Algerian Prime Minister Sifi Ghrieb.

The new price ceiling will remain in effect until the next review cycle. Fuel distributors are required to comply with current regulations, ensure stable supply, and avoid market disruptions.

The Ministry of Industry and Trade said it will continue coordinating with relevant agencies to monitor the market and strictly handle any violations related to fuel supply and pricing.

According to preliminary data from the Department of Customs under the Ministry of Finance, Vietnam imported nearly 2.71 million tonnes of fuel products worth over US$1.94 billion from the beginning of the year to March 15, up around 42–43% year on year. In the first half of March alone, import volume rose 41.4%, and import value surged 89.2% compared to the same period last year.

Amid ongoing volatility in global energy markets, the government has taken steps to secure supply. Prime Minister Pham Minh Chinh has engaged with international partners to mobilise fuel resources, including securing around 4 million barrels from partners and seeking access to Japan’s strategic reserves.

At a meeting with the energy security task force on March 17, the Prime Minister underscored the need to ensure sufficient fuel supply for production and consumption and at the same time to minimise negative impacts on businesses and households.