On August 12, 2026, global oil prices exhibited mixed trends. As of 6:30 PM, West Texas Intermediate (WTI) oil was priced at $83.30 per barrel, reflecting a slight increase of $0.12, or 0.12%. Meanwhile, Brent oil was at $88.99 per barrel, up by $0.08, or 0.09%. The rise in global oil prices comes amid concerns over supply disruptions following weakened prospects for a U.S.-Iran agreement and attacks on shipping vessels.

The Ministry of Industry and Trade noted that the fluctuations in the global oil market are influenced by several key factors, including the cancellation of a new U.S. attack on Iran, an agreement between Iran and Oman regarding the management of the Strait of Hormuz, and OPEC+'s plan to increase oil production starting in September. Additionally, ongoing military conflicts between Russia and Ukraine continue to impact energy facilities and oil refineries.

These factors have led to varying trends in global oil product prices, with an overall downward trend being more prevalent. As for domestic fuel prices, the forecast indicates a potential decrease in the upcoming adjustment period. On August 11, 2026, the prices for commonly consumed fuel products in Vietnam were as follows:

• E5 RON92 gasoline: capped at 21,728 VND/liter, which is 596 VND/liter lower than E10 RON95-III.
• E10 RON95-III gasoline: capped at 22,324 VND/liter.
• Diesel 0.05S: capped at 27,544 VND/liter.
• 180CST 3.5S mazut: capped at 16,391 VND/kg.

A representative from a fuel company indicated that in the next price adjustment, domestic gasoline and oil prices may decrease by 400 to 500 VND/liter, while oil prices could show mixed trends. However, the extent of these changes will depend on the stabilization fund managed by the Ministry of Finance and the Ministry of Industry and Trade.

Comparatively, the fuel prices in neighboring countries as of August 6, 2026, were as follows:

• Thailand: Gasoline at 28,750 VND/liter (government subsidized); Cambodia: 28,838 VND/liter (government subsidized); Laos: 44,916 VND/liter; China: 32,383 VND/liter (government controlled); Vietnam: 22,324 VND/liter.
• Thailand: Oil at 28,750 VND/liter (government subsidized); Cambodia: 33,698 VND/liter; Laos: 37,548 VND/liter; China: 29,366 VND/liter (government controlled); Vietnam: 27,544 VND/liter.

Currently, Vietnam's fuel prices are relatively low compared to those of neighboring countries.