Under the decision, the price of E5 RON92 petrol decreased by VND450 per litre, while RON95 petrol increased by VND330 per litre. After the adjustment, the maximum retail price of E5 RON92 stands at VND22,500 per litre, while RON95 is priced at VND25,570 per litre.

Prices of other petroleum products also fluctuated. Diesel increased by VND550 to VND27,020 per litre, while kerosene rose by VND2,520 to VND26,930 per litre. Meanwhile, mazut declined by VND340 to VND18,660 per kilogram.

During this adjustment cycle, market regulators continued to use the fuel price stabilisation fund, tapped at between VND4,000 – 5,000 per litre depending on types.

The latest changes come after a sharp price reduction just a day earlier, reflecting the continued volatility of the domestic fuel market. Notably, retail fuel prices have been adjusted five times within the past seven days, an uncommon development under the current price management mechanism.

Since the beginning of the year, the price of RON95 has been adjusted upward nine times and downward five times.

Regarding the fuel price stabilisation fund, as of the end of the third quarter of 2025, the total balance held by 27 key fuel traders reached VND5.617 trillion, up nearly VND3 billion compared to the previous quarter.

Previously, from 10 p.m. on March 11, domestic fuel prices were sharply reduced. E5 RON92 fell by VND3,620 to VND22,950 per litre, while RON95 dropped by VND3,880 to VND25,240 per litre. Diesel declined by VND4,240 per litre to VND26,470, kerosene decreased by VND7,970 to VND24,410, and mazut dropped by VND5,700 per kilogram to VND19,000.

Amid tensions in the Middle East and in a bid to boost supply and stabilise the market, the Government issued a Decree on March 9, revising the Most Favoured Nation (MFN) import tariffs on several petroleum products and input materials. MFN tariffs apply to imports from members of the World Trade Organization.

Under the Decree, the MFN tariffs on unleaded motor gasoline such as RON95 and blending components have been reduced from 10% to zero. Import tariffs on diesel and jet fuel have also been cut from 7% to zero.

In addition, tariffs on several petrochemical feedstocks, including naphtha, reformate and condensate, have been lowered to zero.

The decree takes effect from the date of signing until April 30. If necessary, the Ministry of Industry and Trade will propose an extension for the Ministry of Finance to submit to the government for consideration.

Along with tax reductions and the use of the fuel price stabilisation fund to cool the market, the Prime Minister has also tasked the Ministry of Finance with urgently proposing a plan to cut the environmental protection tax on fuel to zero and report to the government on March 12.

Petrol prices plunge to VND25,000/l after nearing VND30,000 a day earlier

VOV.VN - Petrol prices in Vietnam dropped sharply by nearly VND4,000 per litre on the evening of March 11, retreating to around VND25,000 per litre just a day after surging close to the VND30,000 mark.