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Fuel prices cut again from 3pm on May 8

Vietnam’s retail fuel prices were reduced for the second consecutive time from 3pm on May 8, under an urgent directive issued on the same day by the Ministry of Industry and Trade (MoIT).

Illustrative Image (Photo: VNA)
Illustrative Image (Photo: VNA)

Hanoi (VNA) – Vietnam’s retail fuel prices were reduced for the second consecutive time from 3pm on May 8, under an urgent directive issued on the same day by the Ministry of Industry and Trade (MoIT).

Under the latest adjustment, the maximum retail price for E5 RON92 petrol has been set at 18,777 VND per litre (approximately 0.72 USD), down 377 VND from the previous rate. RON95-III petrol is now capped at 19,179 VND per litre, a decrease of 407 VND. Diesel 0.05S is priced at no more than 16,809 VND per litre, down 550 VND, while kerosene has been reduced by 623 VND to a maximum of 16,941 VND per litre. Meanwhile, fuel oil 180CST 3.5S has been lowered by 665 VND to 15,533 VND per kilogram.

The MoIT, in coordination with the Ministry of Finance, decided to adjust domestic fuel prices in line with global market movements, the recent rise in the VND/USD exchange rate, and current regulatory guidelines.

Since the beginning of 2025, domestic fuel prices have undergone 19 adjustments. RON95 petrol has seen nine increases and ten decreases, while diesel has risen eight times, dropped ten times, and remained unchanged once.

In this latest adjustment, the price stabilisation fund was not used for any fuel product./.

VNA
#Ministry of Industry and Trade #Ministry of Finance #fuel prices #E5 RON92 #diesel #petrol prices
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