Vietnam Gasoline Prices Fall as Ministry Works on Fuel Pricing Draft
Domestic retail gasoline and diesel prices declined across Vietnam on Thursday afternoon, October 15, tracking lower global fuel prices while regulators finalize a draft decree on fuel trading.
- Retail fuel prices in Vietnam dropped on Thursday afternoon, October 15, with E10 RON95 falling 4.35% from a week earlier to VND27,020 (US$1.04) per liter, E5 RON92 down 2.64% to VND26,970, and diesel down 0.07% to VND29,100.
- The Ministry of Industry and Trade and the Ministry of Finance linked recent global market moves to a Russian diesel export agreement with the U.S. and OPEC's further downward revision to its oil demand growth forecast for this year.
- The Ministry of Industry and Trade is finalizing a draft fuel trading decree that would let businesses set their own selling prices instead of seven-day government price caps, require 30-minute advance public notice of price changes, and mandate a 300,000-cubic-meter or metric-ton minimum annual supply for major traders.
Domestic gasoline and diesel prices in Vietnam dropped on Thursday afternoon, October 15, amid lower global fuel prices. Popular E10 RON95 gasoline fell 4.35% from a week earlier to VND27,020 (US$1.04) per liter, while E5 RON92 declined 2.64% to VND26,970 per liter and diesel edged down 0.07% to VND29,100 per liter.
Global Market Moves and Draft Fuel Decree
The Ministry of Industry and Trade and the Ministry of Finance attributed recent global market shifts to a Russian diesel export agreement with the U.S. and OPEC's further downward revision of its oil demand growth forecast for this year. Globally, RON95 gasoline fell 5.4% to US$145.7 a barrel and diesel dropped 1.1% to US$165.1 a barrel, while fuel oil rose 7.1% to US$771 a metric ton.
Meanwhile, the Ministry of Industry and Trade is finalizing a draft fuel trading decree that would let businesses calculate and set their own selling prices, replacing the current seven-day government price cap system. Major fuel traders would have to publicly announce the exact hour and minute of new prices at least 30 minutes in advance, keep all related notices and transaction records, and meet a tighter minimum annual supply requirement of 300,000 cubic meters or metric tons.
For foreign residents, the cut slightly lowers motorbike and car fuel costs, and the draft decree could alter the seven-day pricing cycle if enacted.
Source: VnExpress International.
VnExpress International · Published Oct 15, 2026
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