Economy
Gia Lai becomes Việt Nam's first locality to install VMS on 12–15m fishing vessels
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| Customers purchase petrol at a gas station in HCM City. — Photo tintuc.vn |
HÀ NỘI — The Ministry of Finance and the Ministry of Industry and Trade announced the latest fuel price adjustment, effective from 3.00 pm on March 5, with oil and petrol products seeing sharp increases.
Accordingly, E5 RON 92 rose by VNĐ1,926, now capped at VNĐ21,449 (US$0.82) per litre, while RON95-III went up VNĐ2,189 to a maximum of VNĐ22,340 per litre.
The price of diesel 0.05S was set at VNĐ23,037 per litre at the maximum, up VNĐ3,758.
Meanwhile, the prices of kerosene and mazut 180CST 3.5S are capped at VNĐ26,601 per litre and VNĐ17,496 per kg, up VNĐ7,132 and VNĐ1,807, respectively.
In this adjustment, the ministries decided not to use the petrol and oil price stabilisation fund for any of the fuel categories.
Since the beginning of this year, domestic fuel prices have been adjusted ten times, with both RON95-III and E5RON92 decreased four times and increased six times. Meanwhile, diesel prices have fallen twice and risen eight times.
According to the Ministry of Industry and Trade, the global fuel market during the latest price adjustment period from February 26 to March 4, 2026 was influenced by several major factors.
These included the escalating military conflict between the US – Israel coalition and Iran, leading to disruptions to oil transportation through the Strait of Hormuz – a key maritime route that handles about 20 per cent of global oil supply. Iran’s retaliatory attacks on Israeli and US military facilities in the Middle East have forced several refineries in the region to suspend operations to avoid risks, heightening concerns over prolonged fuel supply disruptions. In addition, US crude oil inventories increased while OPEC+ agreed to raise oil output starting in April. The ongoing military conflict between Russia and Ukraine also continued to weigh on the market.
These factors, particularly the escalating tensions involving the US, Israel and Iran, have caused global fuel prices to surge sharply in recent days. — VNS
