Under the decision, the retail price of E5 RON 92 increased by VND3,780 (18%), while RON 95 rose by VND4,700 (21%). After the adjustment, the retail prices of E5 RON 92 stands at VND25,220 per litre, and RON 95 at VND27,040 per litre.

This marks the largest fuel price hike in nearly four years.

Other petroleum products also recorded significant increases during this price adjustment. The price of diesel rose by VND7,200 (31%) to VND30,230 per litre, while kerosene climbed VND8,490 (32%) to VND35,090 per litre. Meanwhile, mazut oil increased VND3,830 (22%) to VND21,320 per kilogram.

Explaining the recent price surge, the Ministry of Industry and Trade said global oil markets have been affected by escalating tensions in the Middle East, particularly the military confrontation between the United States–Israel and Iran on February 28, which has continued to intensify.

The conflict has disrupted oil shipments through the Strait of Hormuz, a critical maritime route that carries roughly 20% of global oil supply. In addition, Iran’s retaliatory strikes on military facilities of Israel and the United States in the region have forced some refineries in the Middle East to suspend operations to avoid risks, raising concerns over prolonged supply disruptions.

These factors have caused global oil prices to spike sharply in recent days, pushing domestic fuel prices higher.

On March 6, the Government issued a resolution allowing market regulators to adjust fuel prices whenever the base price of a commonly used petroleum product increases by 7% or more compared to the previous price adjustment cycle.

If the base price increases by less than 7%, fuel price adjustments will continue to be made weekly on Thursdays, in accordance with current regulations.

Based on data on the components forming the base price and the written opinion of the Ministry of Finance submitted before noon on the adjustment day, the Ministry of Industry and Trade will announce the base price and retail fuel prices accordingly.

This is the tenth fuel price adjustment in 2026. During this period, RON 95 has recorded seven increases and three decreases, while E5 RON 92 has also seen seven increases and three decreases. Diesel prices have increased eight times and decreased twice, while mazut oil has been adjusted seven times upward, twice downward, and once unchanged.

Vietnam assures stable fuel supply amid global energy market volatility

VOV.VN - The Ministry of Industry and Trade (MoIT) has affirmed that domestic fuel supply remains stable thanks to steady production from the country’s two major refineries and continued imports amid rising tensions in the Middle East.