On the evening of April 2, the Ministry of Industry and Trade announced its latest fuel price adjustment, implemented under a market-based mechanism with state management, closely aligned with global price movements and current regulations.
This pricing cycle comes amid continued volatility in global fuel markets, driven by geopolitical tensions in the Middle East, new developments involving Iran, the Russia–Ukraine conflict, and fluctuations in the VND/USD exchange rate. According to the ministry, the average price of refined petroleum products has increased compared to the previous period, with diesel recording a sharp rise while gasoline prices edged up modestly.
Accordingly, the inter-ministerial body decided neither to allocate to nor draw from the petroleum price stabilization fund for any fuel products. This marks a departure from previous adjustments, when the fund was often used to curb price fluctuations.
In this cycle, fiscal policies continue to be applied in line with Decision 482/QD-TTg, under which taxes such as environmental protection tax, special consumption tax, and value-added tax are temporarily reduced to zero. At the same time, a new weighted average import tariff has been incorporated into the base price calculation formula for the second quarter of 2026, as announced by the Ministry of Finance.
The Ministry of Industry and Trade has also issued Decision 571/QD-BCT, temporarily suspending part of the regulations related to petroleum business costs to support price management in the current period.
According to the ministry, domestic fuel prices remain at a moderate level compared to other countries in the region and are lower than those in several neighboring countries.
