Gasoline prices have dropped by nearly 1,400 VND/liter.

The Ministry of Industry and Trade and the Ministry of Finance have decided to adjust and reduce the prices of petroleum products from 3 PM on May 28th. Specifically, RON95-III gasoline will decrease by nearly 1,400 VND/liter, bringing the maximum retail price down to 24,154 VND/liter.

From 3 PM on May 28th, gasoline and diesel prices were simultaneously adjusted downwards. Photo: VNA

Following adjustments by the Ministry of Industry and Trade and the Ministry of Finance, E5RON92 gasoline decreased by 1,082 VND/liter compared to the current maximum selling price, not exceeding 23,258 VND/liter; RON95-III gasoline will not exceed 24,154 VND/liter (a decrease of 1,395 VND/liter compared to the current maximum selling price).

Prices for various types of fuel have also been adjusted downwards: diesel 0.05S will not exceed 27,651 VND/liter (a decrease of 1,110 VND/liter compared to the current maximum selling price); mazut 180CST 3.5S will not exceed 20,442 VND/kg (a decrease of 1,041 VND/kg compared to the current maximum selling price).

During this price adjustment period, the Ministry of Industry and Trade and the Ministry of Finance decided to apply the allocation and expenditure levels of the Fuel Price Stabilization Fund as stipulated in Decision No. 1270/QD-BCT dated May 28, 2026, of the Minister of Industry and Trade on the application of measures to utilize the Fuel Price Stabilization Fund, to manage domestic fuel prices in a way that accurately reflects the fluctuating trends of world fuel prices; to continue maintaining a reasonable price difference between E5RON92 bio-gasoline and RON95 unleaded gasoline to encourage the use of biofuels; and to ensure a balance of interests among market participants.

Specifically, the following amounts will be allocated to the Fuel Price Stabilization Fund (provisionalized from the state budget): 500 VND/liter for bio-gasoline; 700 VND/liter for unleaded gasoline; 300 VND/liter for diesel fuel; and 700 VND/kg for fuel oil.

The Fuel Price Stabilization Fund (an advance from the state budget) should not be used for all types of fuel.

The global oil market during this price adjustment period was influenced by several key factors, including: new developments in negotiations between the US and Iran; continued US attacks while negotiating with Iran, with Iran warning of retaliation; gradual recovery of maritime traffic through the Strait of Hormuz; rising inflation in the US due to volatile energy prices; the International Energy Agency (IEA) reporting a rapid decline in commercial oil reserves; and the ongoing military conflict between Russia and Ukraine…

The factors mentioned above have caused world petroleum product prices to fluctuate in recent days, with some products rising and others falling, but the trend has been predominantly downward.

The average world refined petroleum product prices between the price adjustment period of May 21, 2026 and the adjustment period of May 28, 2026 are: US$126.218/barrel for RON92 gasoline used to blend E5RON92 gasoline (down US$10.214/barrel, equivalent to a 7.49% decrease); US$126.928/barrel for RON95 gasoline (down US$12.844/barrel, equivalent to a 9.19% decrease); US$146.698/barrel for 0.05S diesel oil (down US$8.608/barrel, equivalent to a 5.54% decrease); and US$655.208/ton for 180CST 3.5S fuel oil (down US$66.098/ton, equivalent to a 9.16% decrease).

Source: https://baothainguyen.vn/kinh-te/thi-truong/202605/xang-giam-gan-1400-donglit-2e12a3d/