Vietnam's Ministry of Industry and Trade published new fuel price caps and instructed businesses to apply them from 10 p.m. on November 3.
During this price review, the inter-ministerial committee for industry and trade and finance decided to allocate 700 dong from each litre of biofuel to the fuel price stabilisation fund. The fund will not be used to offset the prices of other fuel products.
The cap for E5 RON 92 petrol was set at 23,203 dong per litre, 1,020 dong below the previous maximum price of 24,223 dong. The previous price followed a cut in the special consumption tax rate to 0% on November 1, 2026. E5 RON 92 is 28 dong per litre cheaper than E10 RON 95.
The cap for E10 RON 95 petrol was set at 23,231 dong per litre, down 928 dong from the previous maximum price of 24,159 dong. This price also reflects the cut in the special consumption tax rate to 0% on November 1, 2026.
Diesel fell by 1,370 dong to 28,876 dong per litre.
Mazut rose by 378 dong to 23,974 dong per kilogram.
The Ministry of Industry and Trade said global fuel prices during this review were affected by prospects for diplomatic engagement between the United States and Iran, signs of improving oil exports from Saudi Arabia, and the continuing conflict between Russia and Ukraine. As a result, global refined fuel prices moved in different directions in recent days.
During this review, the inter-ministerial committee applied the special consumption tax on petrol under Government Resolution No. 45/2026/NQ-CP dated October 31, 2026.
Vietnam petrol is 8,600 to 26,300 dong cheaper than in neighbouring countries
According to the Ministry of Industry and Trade, fuel price data updated on November 3 showed that prices in Vietnam remained lower than in regional countries and neighbouring countries that share a land border with Vietnam.
Petrol in Vietnam costs no more than 23,231 dong per litre. The price was 32,550 dong per litre in Thailand, 31,887 dong in Cambodia, 36,125 dong in China and 49,620 dong in Laos.
Petrol in Vietnam is therefore about 8,600 to 26,300 dong per litre cheaper than in neighbouring countries, although many countries in the region use subsidies or control prices.
The inter-ministerial committee for industry and trade and finance said it would continue monitoring the market, adjust fuel prices as needed, and promptly propose stabilisation measures to the government and prime minister.
Sources: Thanh Niên
