As of 3 PM on October 1, fuel prices in Vietnam have increased once again, with E10 gasoline now costing more than 27,100 VND per liter. The Ministry of Industry and Trade and the Ministry of Finance announced this adjustment, which includes a rise of 170 VND per liter for E5 RON 92 gasoline and 100 VND per liter for E10 RON 95 gasoline.

After this adjustment, the retail prices are set at 26,560 VND per liter for E5 RON 92 and 27,180 VND per liter for E10 RON 95. Meanwhile, diesel prices have decreased by 780 VND per liter to 29,710 VND per liter, while mazut prices have risen by 920 VND per kilogram to 20,390 VND.

This marks the fifth consecutive increase in domestic fuel prices, while diesel has seen a reversal after three increases. Currently, the price levels of these fuels in Vietnam remain lower compared to neighboring countries.

As of June 30, the balance of the fuel price stabilization fund reached over 196.28 billion VND, an increase of more than 1.22 billion VND since the beginning of the second quarter. In this quarter, the total amount allocated from the fund was over 1.886 trillion VND, with expenditures exceeding 873 billion VND and generating over 309 million VND in interest.

Additionally, on September 30, the government issued Resolution 43, extending the exemption period for preferential import tariffs, environmental protection taxes, and value-added taxes (VAT) on fuel until December 31, which is three months longer than the current regulations. This new resolution took effect on October 1.

Regarding the global crude oil market, on October 1, crude oil prices decreased by about 1% as supply from the Gulf region began to recover and U.S. oil inventories unexpectedly rose. The market is also closely monitoring new diplomatic efforts between the U.S. and Iran aimed at easing tensions in the Middle East.

Brent crude oil fell by 1.1% to 96.92 USD per barrel, while U.S. WTI crude dropped 1.4% to 89.18 USD per barrel. In September, Brent crude prices increased by approximately 14%, marking the strongest monthly rise since July, while WTI prices rose about 5%.

According to Sugandha Sachdeva, founder of SS WealthStreet in New Delhi, oil prices are under downward pressure as oil transport activities from the Gulf recover, with Saudi Arabia resuming oil exports through the Yanbu port. The U.S. Energy Information Administration (EIA) reported that crude oil inventories increased by 922,000 barrels to 427.3 million barrels for the week ending September 25, contrary to analysts' expectations of a decrease.

Market participants are also paying attention to the evolving U.S.-Iran relations, as Iran has indicated it received feedback from the U.S. regarding a new proposal aimed at restoring a ceasefire agreement in the Gulf. If diplomatic progress is made, the geopolitical risk premium in oil prices could decrease, although the likelihood of a breakthrough remains uncertain.

Goldman Sachs estimates that oil exports from the Gulf region have rebounded to approximately 23.3 million barrels per day last week, matching the average for 2025. Oil exports from this area have doubled in September. Furthermore, OPEC+ is likely to maintain its oil production targets during its meeting on October 4, according to two Reuters sources.