Petroleum products pumped into a tank at a storage facility of Petimex. From Wednesday, enterprises will be responsible for determining kerosene price. — VNA/VNS Photo Nhựt An

HÀ NỘI — Việt Nam will stop regulating kerosene prices from April 29, allowing businesses to set retail prices based on market conditions under a new decree issued by the Ministry of Industry and Trade on Tuesday.

The decree removes kerosene from the list of petroleum products subject to State price management under Circular 18/2025/TT-BCT dated March 13, 2025.

Nguyễn Thúy Hiền, Deputy Director of the ministry’s Domestic Markets Management Department, said from Wednesday enterprises will be responsible for determining kerosene prices.

Kerosene plays a limited role in the domestic fuel mix, accounting for just about 0.1 per cent of total petroleum consumption. She said enterprises have already been allowed to decide prices for several high-grade gasoline products with low market demand.

The ministry said the policy aims to give businesses greater pricing flexibility while allowing regulators to focus on more widely consumed fuels such as gasoline and diesel.

Kerosene, a refined petroleum product commonly used as household fuel and in industrial production, has become less widely used in recent years as consumers shift to alternative energy sources.

State-run fuel distributor Petrolimex currently lists kerosene prices at around VNĐ32,100 (US$1.26) per litre in major urban areas and VNĐ32,740 per litre in other regions. — VNS