[REVISION HISTORY]

Vietnam petroleum regulation and fuel price trends

Updated 11 times since CLSTR started tracking revisions of this situation.

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2026-10-21 03:44 UTC → 2026-10-22 02:48 UTC · added ~~removed~~

Vietnam is advancing regulatory reforms to its petroleum sector, focusing on price deregulation and tax relief. Under Resolution 43/2026/NQ-CP, the government has extended preferential import taxes, environmental protection taxes, and VAT exemptions for petroleum and aviation fuel through December 31, 2026, to stabilize the domestic market. The Ministry of Industry and Trade is proposing a new decree to transition from state-announced periodic base prices to a market-driven mechanism. Under this proposal, wholesale and distribution enterprises would be granted autonomy to determine retail prices using a regulated formula that accounts for purchase costs, business expenses, and profit margins. To prevent market manipulation, businesses must publicly announce new prices at least 30 minutes before implementation. In response to the draft decree, the Vietnam Chamber of Commerce and Industry (VCCI) has submitted recommendations. VCCI suggested that price formulas should serve as a basis for monitoring rather than a tool for imposing costs, noting that detailed analysis requirements could increase the compliance burden for smaller enterprises. VCCI also recommended clarifying price regulations for remote areas to reflect actual costs and proposed removing the mandate for wholesalers to own at least 40 retail outlets, suggesting a focus on supply capacity through ownership, co-ownership, or long-term leases instead. In a shift from previous rising trends, major petroleum companies including PVOIL, Petrolimex, and Thalexim have begun proactively reducing fuel prices below government-regulated rates. PVOIL has implemented a reduction of 350 VND per liter across its network through October 22, 2026, while Petrolimex is applying minimum price reductions through October 29. Experts suggest these moves demonstrate corporate responsibility and coincide with ongoing discussions regarding new decrees that could grant enterprises greater pricing autonomy.

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