Vietnam cuts gasoline, diesel and mazut prices sharply on June 25 2026

On 25 June 2026, Vietnam’s Ministry of Industry and Trade and Ministry of Finance announced new retail price caps effective from 15:00: gasoline E5 RON 92 at no more than 19,359 VND per litre (a cut of 767 VND), gasoline E10 RON 95‑III at no more than 19,916 VND per litre (‑837 VND), diesel at no more than 21,866 VND per litre (‑1,668 VND) and mazut at no more than 15,030 VND per kilogram (‑1,650 VND). The authorities did not draw on the price‑stabilisation fund but set aside 300 VND per litre for bio‑fuel and 800 VND per litre/kg for diesel and mazut.

The reduction follows a global oil‑market easing linked to positive US‑Iran talks, increased vessel traffic through the Hormuz Strait and the ongoing Russia‑Ukraine conflict. Vietnam is also extending fuel‑tax incentives—maintaining import‑duty exemptions, zero environmental taxes and VAT waivers—through 30 September 2026. In parallel, the government is preparing the rollout of E10 bio‑fuel, removing bottlenecks for enterprises by allowing independent testing and the transfer of existing non‑lead fuel stocks. With the new caps, Vietnam’s retail fuel prices are now lower than those in neighboring Thailand, Cambodia, Laos and China.