AsemconnectVietnam - In May 2025, domestic fuel prices were adjusted four times. Among the changes:

• RON95-III gasoline decreased by VND50/litre
• E5 RON92 gasoline dropped VND30/litre
• Diesel went down by VND30/litre
• Kerosene fell by VND260/litre
• Fuel oil (mazut) increased by VND330/kg (Petrolimex quoted prices)
On May 22, 2025, the Ministry of Industry and Trade – Ministry of Finance announced price adjustments effective from 3:00 PM:
• E5 RON92 gasoline: down VND58/litre, capped at VND19,122/litre
• RON95 gasoline: down VND62/litre, capped at VND19,532/litre
• Diesel: up VND177/litre
• Kerosene: up VND88/litre
• Fuel oil: up VND352/kg
This adjustment was made based on global oil price fluctuations, VND/USD exchange rate developments, and current regulations. The authorities aimed to align domestic prices with global trends, maintain a reasonable gap between E5 RON92 biofuel and RON95 mineral gasoline to promote biofuel usage, and balance interests across the supply chain.
On May 15, 2025, domestic fuel prices were increased:
• E5 RON92: up VND403/litre, capped at VND19,180/litre
• RON95: up VND415/litre, capped at VND19,594/litre
• Diesel: up VND419/litre
• Kerosene: up VND285/litre
• Fuel oil: up VND627/kg
On May 8, 2025, prices were reduced:
• E5 RON92: down VND377/litre
• RON95: down VND407/litre
• Diesel: down VND550/litre
• Kerosene: down VND623/litre
• Fuel oil: down VND665/kg
Imports
According to preliminary data from the General Department of Vietnam Customs, in April 2025:
• Petroleum imports reached 885,825 tonnes (+9.3% MoM), valued at USD577.9 million (+3.6% MoM)
• The average import price was USD652/tonne, down USD33 from the previous month
In the first four months of 2025:
• Imports totaled 3,216,844 tonnes, worth USD2.2 billion
• Average price: USD691/tonne
By Market:
• Singapore was the top supplier, accounting for 44–45% of total volume and value:
o 1,420,385 tonnes, USD1 billion, +46.7% in volume and +20.7% in value YoY
o In April alone: 491,189 tonnes, USD324.4 million, average price USD660/tonne, +68.9% in volume and +58.6% in value MoM
• South Korea ranked second (24–25% share):
o 821,949 tonnes, USD545.9 million, –22.6% in volume, –35% in value YoY
o In April: 156,318 tonnes, USD95.3 million, average price USD609/tonne, down USD38/tonne MoM
• China held a 14% share:
o 455,272 tonnes, USD331.3 million, +8% in volume, –7.4% in value YoY
o In April: imports dropped 36.1% in volume and 38.7% in value; average price USD713/tonne
• Malaysia accounted for 10–11%:
o 361,543 tonnes, USD229.5 million, –68% in volume and –75.4% in value YoY
o In April: 10,966 tonnes, USD64.2 million, average price USD611/tonne, +5.8% in volume and +1.7% in value MoM
• Thailand contributed over 1%:
o 54,175 tonnes, USD40.5 million, –36% in volume and –44.5% in value; average price USD747/tonne
Exports
According to preliminary customs data:
In April 2025:
• Vietnam exported 143,874 tonnes of petroleum (–16.8% MoM), valued at USD91.7 million (–22% MoM)
• Average export price: USD637/tonne, down USD63/tonne from March
In the first four months of 2025:
• Exports totaled 514,622 tonnes, valued at USD355.5 million, down 38.1% in volume and 49.2% in value YoY
By Market:
• South Korea remained the top destination:
o 103,207 tonnes, USD84.9 million, +23.8% in volume and +11.9% in value YoY
o In April: 17,536 tonnes, USD14.2 million, average price USD810/tonne, down 40.9% in volume and 43.2% in value MoM
• China:
o 106,388 tonnes, USD81.7 million, +43.2% in volume, +18.5% in value YoY
o In April: exports dropped 68.1% in volume and 62.7% in value; average price USD825/tonne
• Singapore:
o 137,924 tonnes, USD75.1 million, +249.9% in volume and +232.8% in value YoY
o April exports: 34,141 tonnes, USD16.3 million, average price USD464/tonne
• Cambodia:
o 103,888 tonnes, USD74.3 million, –31.8% in volume and –42.1% in value YoY
o In April: 30,186 tonnes, USD20.2 million, average price USD671/tonne, down USD28/tonne from March
• Malaysia:
o 44,480 tonnes, USD25.1 million, +68.8% in volume and +103.6% in value YoY
o In April: 30,186 tonnes, USD20.2 million, average price USD671/tonne
• Laos:
o 8,279 tonnes, USD5.94 million, –80.2% in volume and –82.7% in value YoY
Other markets such as Hong Kong and Thailand accounted for less than 1% of total exports in both volume and value.'
T.Huong
Source: Vitic