Vietnam proposes new petroleum pricing and stabilization rules

Vietnam's Ministry of Industry and Trade is proposing significant reforms to the petroleum business sector. Under a new draft decree, the state would cease publishing periodic base prices, instead granting wholesale and distribution enterprises the authority to decide their own selling prices. To ensure transparency and prevent market manipulation, enterprises would be required to announce new prices at least 30 minutes before implementation.

The proposal also includes plans to phase out the Petroleum Price Stabilization Fund by January 1, 2027. In its place, the government may introduce alternative stabilization tools, such as maximum price ceilings or specific price frameworks, to be used during periods of extreme market volatility.

To monitor the market, the Ministry and provincial authorities plan to utilize a national data connection system. This system will track price declarations and transactions to detect signs of collusion, price-fixing, or illegal supply restrictions. Additionally, the draft suggests stricter business conditions, requiring wholesale enterprises to own at least 40 retail outlets to ensure supply stability.

Separately, recent market data shows a downward trend in domestic fuel prices as of mid-October 2026, with significant decreases in gasoline prices following global market shifts.