According to the inter-ministerial management decision, the price of E5 RON92 gasoline decreased by 205 VND/liter to 18,233 VND/liter, while RON95-III gasoline saw a more significant drop of 357 VND/liter, settling at 18,560 VND/liter.
Oil products also experienced a collective price reduction. Diesel 0.05S decreased by 194 VND/liter to 17,061 VND/liter, and kerosene dropped by 135 VND/liter to 17,559 VND/liter. In contrast, mazut 180CST 3.5S saw a slight increase of 58 VND/kg, reaching 13,403 VND/kg.
Notably, during this management period, the Inter-Ministerial Council continued to neither allocate nor utilize the Price Stabilization Fund for all petroleum products.
Gasoline prices dropped for the fifth consecutive time starting at 3 PM on January 8th.
The Ministry of Industry and Trade attributed the domestic fuel price decrease to the global refined petroleum product prices, influenced by key factors such as OPEC+ agreeing to maintain oil production levels in Q1/2026, the U.S. detaining Venezuela’s President, potentially leading to the lifting of the oil embargo on Venezuela, and the ongoing military conflict between Russia and Ukraine showing signs of escalation in early 2026. These factors caused global oil prices to fluctuate, with varying trends across different products.
The average global refined petroleum product prices between the price management periods of December 31, 2025, and January 7, 2026, were $70.8/barrel for RON92 gasoline (a decrease of $1.095/barrel) and $72.1/barrel for RON95 gasoline (a decrease of $1.8/barrel).
This marks the fifth consecutive reduction in domestic fuel prices, contributing to lowering fuel costs for production, transportation, and consumption as the economy enters its peak phase at the beginning of the year.
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