Fuel prices in Vietnam have seen a continuous decline, primarily driven by a decrease in global oil prices. As reported, the Ministry of Industry and Trade and the Ministry of Finance noted that the recent price adjustments are influenced by various factors, including negotiations regarding the control and reopening of the Strait of Hormuz, compensation demands between Iran and the U.S., and ongoing attacks by Houthi forces on oil facilities in Saudi Arabia.

As of 3 PM on August 13, the price of E5 RON 92 gasoline dropped by 490 VND per liter to 21,230 VND, while E10 RON 95-III was adjusted down by 210 VND to 22,110 VND per liter. Diesel prices also decreased by 310 VND per liter to 27,230 VND, although mazut prices increased by 360 VND to 16,750 VND per kilogram.

OPEC and the International Energy Agency (IEA) have lowered their forecasts for oil demand in 2026, which has contributed to the recent price fluctuations. The average global price for RON 92 gasoline was reported at 107.73 USD per barrel, down by 2.46 USD, while RON 95 averaged 111.65 USD per barrel, a decrease of 2.27 USD. Diesel prices averaged 151.04 USD per barrel, down by 1.64 USD.

Despite the price drops, fuel prices in Vietnam remain lower compared to neighboring countries. For instance, gasoline prices in Thailand are approximately 28,436 VND per liter, while in Cambodia, they are 26,760 VND per liter. In contrast, Vietnam's price for E10 RON 95-III stands at 22,110 VND per liter.

The Ministry of Industry and Trade has stated that they will continue to monitor market developments closely and will ensure that fuel suppliers meet their responsibilities in providing fuel to the market. They will also take strict action against any violations if necessary.