Vietnam petroleum market – June 2025
Monday, June 30,2025
AsemconnectVietnam - In June 2025, domestic petroleum prices were adjusted three times. Specifically, RON 95-III gasoline increased by 2,210 VND/liter, E5 RON 92 gasoline rose by 1,540 VND/liter. Diesel oil increased by 1,590 VND/liter, kerosene by 1,640 VND/liter, and mazut oil by 1,150 VND/kg (according to Petrolimex).
Fuel Price Developments in June 2025
Unit: VND thousand/liter, except for mazut (VND thousand/kg)
Source: Petrolimex
· June 19, 2025: The Ministry of Industry and Trade and the Ministry of Finance decided to raise fuel prices from 3:00 PM.
o E5 RON 92 gasoline rose by 1,169 VND/liter to a maximum of 20,631 VND/liter.
o RON 95 gasoline rose by 1,277 VND/liter to a maximum of 21,244 VND/liter.
o Diesel increased by 1,456 VND/liter.
o Kerosene increased by 1,412 VND/liter.
o Mazut increased by 1,182 VND/kg.
This price adjustment was based on global fuel price trends, VND/USD exchange rate fluctuations, and relevant regulations. The ministries aimed to align domestic prices with international market movements, maintain a reasonable price gap between biofuel (E5 RON 92) and traditional fuel (RON 95) to promote biofuel use as per government policy, and balance the interests of market participants.
· June 12, 2025: From 3:00 PM, E5 RON 92 gasoline increased by 199 VND/liter to a maximum of 19,462 VND/liter; RON 95 gasoline rose by 269 VND/liter to 19,967 VND/liter.
o Diesel increased by 280 VND/liter.
o Kerosene increased by 227 VND/liter.
o Mazut increased by 283 VND/kg.
· June 5, 2025: From 3:00 PM, E5 RON 92 gasoline rose by 67 VND/liter, RON 95 increased by 133 VND/liter.
o Diesel rose by 284 VND/liter.
o Kerosene rose by 176 VND/liter.
o Mazut decreased by 86 VND/kg.
Imports
According to preliminary data from the General Department of Customs, Vietnam imported 758,849 tons of petroleum in May 2025, valued at 480.4 million USD. This marked a 14.3% decrease in volume and a 16.8% drop in value from April. The average import price was 633 USD/ton, down 19 USD from the previous month.
In the first five months of 2025:
· Total imports: 3,964,747 tons, worth 2.6 billion USD, with an average price of 679 USD/ton.
· Top supplier: Singapore, accounting for 40–41% of total imports.
o Volume: 1,594,820 tons, worth 1.1 billion USD.
o Year-on-year: +44.4% in volume, +18.1% in value.
o May alone: down 62.2% in volume and 63.6% in value from April, at 185,224 tons and 118 million USD. Average price: 637 USD/ton.
· South Korea: 24–26% share.
o 1,032,982 tons, 673.09 million USD.
o Year-on-year: -26.7% in volume, -38.8% in value.
o May: 211,045 tons (+35%), 127.9 million USD (+34%), avg. price: 606 USD/ton.
· China: 14–15% share.
o 590,361 tons, 417.5 million USD.
o Year-on-year: +19.4% in volume, +0.6% in value.
o May: 135,210 tons (+51.8%), 90.7 million USD (+42.9%), avg. price: 671 USD/ton.
· Malaysia: 12–13% share.
o 534,543 tons, 337.9 million USD.
o Year-on-year: -62.2% in volume, -70.6% in value.
o May: volume +64.5%, value +68.27%, avg. price 624 USD/ton (down 89 USD).
· Thailand: 1–2% share.
o 75,022 tons, 54.6 million USD.
o Year-on-year: -40.6% in volume, -49.2% in value.
o May: 20,847 tons (+90.1%), 14.1 million USD (+82.1%), avg. price 676 USD/ton.
Petroleum Imports in First 5 Months of 2025
(Based on General Department of Customs data released June 10, 2025)
(Based on General Department of Customs data released June 10, 2025)
|
Market
|
Volume (tonnes)
|
Value (thousand USD)
|
YoY Change Volume (%)
|
YoY Change Value (%)
|
Share Volume (%)
|
Share Value (%)
|
|
Total
|
3,964,747
|
2,693,414
|
-14.6
|
-29.0
|
100.0
|
100.0
|
|
Singapore
|
1,594,820
|
1,115,745
|
+44.4
|
+18.1
|
40.2
|
41.4
|
|
South Korea
|
1,032,982
|
673,091
|
-26.7
|
-38.8
|
26.0
|
24.9
|
|
China
|
590,361
|
417,583
|
+19.4
|
+0.6
|
14.8
|
15.5
|
|
Malaysia
|
534,543
|
337,910
|
-62.2
|
-70.6
|
13.4
|
12.5
|
|
Thailand
|
75,022
|
54,620
|
-40.6
|
-49.2
|
1.8
|
2.0
|
Exports
According to the General Department of Customs, in May 2025, Vietnam exported 90,223 tonnes of petroleum products, worth 60.2 million USD. This was a 37.2% decrease in volume and 34.3% drop in value compared to April. However, the average export price rose to 667 USD/tonne, up 30 USD from April.
In the first five months of 2025:
· Total exports: 601,789 tonnes, worth 413.3 million USD.
o Year-on-year: -41.8% in volume, -52.1% in value.
· Top export markets:
o South Korea: 134,539 tonnes (+27.3%), 108.7 million USD (+13.2%), share: 22–26%.
§ May: 31,332 tonnes, 23.7 million USD, avg. price 759 USD/tonne.
o China: 123,863 tonnes (+30.09%), 95.3 million USD (+7.3%). Share: 20–23%.
§ May: +7.6% in volume, +5.2% in value, avg. price 807 USD/tonne.
o Singapore: 156,349 tonnes (+177.9%), 83.6 million USD (+161.6%). Share: 20–25%.
§ May: 19,928 tonnes, 8.9 million USD, avg. price 451 USD/ton.
o Cambodia: 109,621 tonnes (-44.5%), 78.1 million USD (-52.2%). Share: 18%.
§ May: 5,785 tonnes, 3.8 million USD, avg. price 668 USD/ton (down 3 USD).
o Malaysia: 51,480 tonnes (+95.4%), 28.3 million USD (+128.8%). Share: 6–8%.
§ May: 7,000 tonnes, 3.1 million USD.
o Laos, Hong Kong, Thailand: Each accounts for less than 2% of export volume and value.
Petroleum Exports in First 5 Months of 2025
(Based on General Department of Customs data released June 10, 2025)
(Based on General Department of Customs data released June 10, 2025)
|
Market
|
Volume (tonnes)
|
Value (thousand USD)
|
YoY Change Volume (%)
|
YoY Change Value (%)
|
Share Volume (%)
|
Share Value (%)
|
|
Total
|
601,789
|
413,379
|
-41.8
|
-52.1
|
100.0
|
100.0
|
|
South Korea
|
134,539
|
108,739
|
+27.3
|
+13.2
|
22.3
|
26.3
|
|
China
|
123,863
|
95,312
|
+30.1
|
+7.3
|
20.5
|
23.1
|
|
Singapore
|
156,349
|
83,660
|
+177.9
|
+161.6
|
25.9
|
20.2
|
|
Cambodia
|
109,621
|
78,103
|
-44.5
|
-52.2
|
18.2
|
18.8
|
|
Malaysia
|
51,480
|
28,295
|
+95.4
|
+128.8
|
8.5
|
6.8
|
|
Laos
|
11,006
|
7,725
|
-77.4
|
-80.7
|
1.8
|
1.8
|
Source: General Department of Customs
T.Huong
Source: Vitic
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