Vietnam cuts petrol prices sharply in latest fuel adjustment

Vietnam's fuel pricing authority implemented a significant downward adjustment to petrol prices starting at 3 p.m. on October 15, providing relief to consumers amid volatile global energy markets. E5RON92 gasoline, the most commonly used fuel grade in the country, dropped to 23,203 VND per liter, representing a decrease of 1,020 VND from the previous price band. The premium E10RON95-III variant fell more modestly to 23,231 VND per liter, down 928 VND, maintaining a modest 28 VND premium over the standard grade. The adjustment reflects fluctuations in international crude oil prices and currency movements that periodically trigger Vietnam's fuel price recalibrations. Notably, mazut and diesel prices moved counter to the petrol decline, increasing during the same adjustment cycle, highlighting the divergent market dynamics affecting different fuel categories in Southeast Asia's second-largest economy.