The two petrol grades have therefore recorded consecutive price cuts within just three days.
The Ministry of Industry and Trade announced on the evening of November 3 that domestic retail prices of petrol and diesel would be reduced from 10 p.m. that day, while mazut prices would be increased.
Following the adjustment, E5RON92 petrol was priced at VND23,203 (US$0.9) per liter, down VND1,020, while E10RON95-III fell by VND928 to VND23,231 per liter. Diesel 0.05S dropped by VND1,370 to VND28,876 per liter. Meanwhile, 180CST 3.5S mazut rose by VND378 to VND23,974 per kilogram.
According to the Ministry of Industry and Trade, during this adjustment period, average global prices of finished RON92 petrol fell by 8.04 percent, RON95 petrol by 8.05 percent, and diesel by 4.78 percent compared with the previous adjustment on October 29. In contrast, mazut prices increased by 1.92 percent.
For the November 3 adjustment, the ministries of Industry and Trade and Finance decided to allocate VND700 per liter from the Petrol Price Stabilization Fund for biofuel products. No contributions were made for diesel or mazut. The fund was not used to subsidize any fuel products during this adjustment period.
Previously, on the evening of October 31, the Ministry of Industry and Trade announced a petrol price adjustment effective November 1, following the reduction of the special consumption tax rate on petrol products to zero percent under Government Resolution No. 45/2026/NQ-CP dated October 31, 2026.
The ministry said the November 3 adjustment was triggered by a decline of more than 10 percent in the base prices of petrol products compared with the preceding adjustment, exceeding the 10-percent reduction threshold stipulated in Government Resolution No. 55/NQ-CP dated March 19, 2026. The decline was attributed to falling global prices of finished petroleum products.
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