Gasoline price increases, RON 95 exceeds 20,000 VND/liter

On the afternoon of August 21, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes in retail gasoline prices. The effective time is from 3:00 p.m. the same day.

The regulatory agency decided to increase the price of E5 RON 92 gasoline by VND110 per liter and RON 95 gasoline by VND210 per liter. After adjustment, the retail price of E5 RON 92 gasoline is VND19,460 per liter and RON 95 gasoline is VND20,090 per liter.

Similarly, oil prices continued to decrease during this management period. Specifically, diesel oil decreased by 170 VND/liter to 17,900 VND/liter, kerosene decreased by 210 VND/liter to 17,810 VND/liter; fuel oil decreased by 150 VND/kg to 15,110 VND/kg. The management agency still maintained not to draw from or spend from the price stabilization fund.

Thus, domestic gasoline prices have increased after only one session of decrease. Currently, this fuel price is at a low level in more than 4 years, equivalent to June 2021. Since the beginning of the year, RON 95 gasoline has increased 19 times, decreased 16 times. Diesel has increased 16 times, decreased 17 times and remained unchanged once.

The room for the petroleum price stabilization fund of some key enterprises still recorded a large positive level because in many recent management periods, this fund was not used. The fund balance as of the end of the first quarter was more than 6,079 billion VND. Of which, the balance at the Vietnam National Petroleum Group ( Petrolimex ) accounted for half, at 3,082 billion VND.

The Ministry of Industry and Trade is seeking opinions to submit to the Government a roadmap for applying biofuels, with the goal of switching to using E10 biofuel nationwide.

Starting from August 1, the two largest petroleum companies in the country, the Vietnam National Petroleum Group (Petrolimex) and the Vietnam Oil Corporation (PV Oil), said they will pilot the sale of E10 gasoline in Ho Chi Minh City, Hanoi and Hai Phong.

On August 8, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan signed a decision to establish a drafting team for the Circular. On August 15, the drafting team held its first meeting to approve the draft Circular stipulating the new roadmap.

Accordingly, from January 1, 2026, gasoline used for vehicles will be E10 gasoline (base gasoline for blending E10 is RON 92, RON 95 gasoline and other types according to regulations). From January 1, 2031, switch to using E15 or higher based on the results of the implementation phase of E10 gasoline, the socio-economic situation and the development of technology, equipment and gasoline-using engines at that time.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-tang-ron-95-vuot-20000-donglit-20250821142932279.htm