Vietnam’s Ministry of Industry and Trade and Ministry of Finance raised retail gasoline and diesel prices effective 3 p.m. on July 23, 2026, marking the second consecutive increase as global crude prices climbed on Middle East supply concerns. The new price list remained in effect through at least July 27, with the next scheduled adjustment set for July 30 under the ministries’ weekly review cycle.
Key Facts At A Glance
- Fuel prices adjusted from 3 p.m., July 23, 2026, the second consecutive increase
- E5 RON92 petrol rose VND1,060 per litre to VND20,880 (about USD0.80)
- E10 RON95 petrol rose VND880 per litre to VND21,430 (about USD0.82)
- Diesel posted the largest increase, up VND2,440 per litre to VND25,760 (about USD0.98)
- Mazut (fuel oil) rose VND1,110 per kilogram to VND15,560 (about USD0.59)
- Authorities drew on the Fuel Price Stabilization Fund rather than replenishing it this cycle
- Prices held steady through July 27, with WTI at USD85.15 and Brent at USD91.68 per barrel
- Next scheduled price review falls on Thursday, July 30, 2026
Vietnam’s Ministry of Industry and Trade and Ministry of Finance ordered a nationwide increase in retail petrol and diesel prices starting at 3 p.m. on July 23, 2026, the second straight upward adjustment as global refined product benchmarks climbed sharply. E5 RON92 petrol increased by VND1,060 per litre to VND20,880, while E10 RON95 rose VND880 per litre to VND21,430. Diesel recorded the steepest increase of the cycle, up VND2,440 per litre to VND25,760, and mazut fuel oil rose VND1,110 per kilogram to VND15,560.
Fund Mechanism And Global Benchmarks
For this pricing period, the two ministries opted not to replenish the petrol Price Stabilization Fund and instead disbursed from it at set rates for other fuel categories to cushion the increase. The adjustment followed a sharp jump in average world refined product prices between the July 16 and July 23 review periods, with the RON92 blending benchmark rising to roughly USD112 per barrel, an increase of more than 12 percent, and the RON95 benchmark climbing to about USD115.5 per barrel, up more than 11 percent.
Prices Hold Into Late July
As of July 27, retail prices at Petrolimex, Vietnam’s largest fuel distributor, continued to reflect the July 23 adjustment, issued under Ministry of Industry and Trade Official Letter No. 5680/BCT-TTTN. World crude benchmarks remained elevated, with WTI at USD85.15 per barrel and Brent at USD91.68 per barrel, both essentially unchanged from the prior day. Under Vietnam’s current pricing mechanism, retail rates are reviewed every Thursday unless global prices swing more than 15 percent higher or 10 percent lower between cycles, meaning the next scheduled adjustment falls on July 30.