· Ron 95-III gasoline fell by VND390/litre
· E5 ron 92 gasoline declined by VND50/litre
· Diesel oil decreased by VND700/litre
· Kerosene fell by VND1,520/litre
· Fuel oil declined by VND320/kg
(Retail prices applied by petrolimex)
Imports
According to preliminary statistics from Vietnam Customs, Vietnam’s petroleum imports in November 2025 declined by 7.9% in volume and 1.4% in value month on month to 648,049 tonnes, valued at USD473.5 million. The average import price stood at USD730/tonne, up USD48/tonne compared with the previous month.
Cumulatively in the first 11 months of 2025, petroleum imports totaled 9,018,962 tonnes, valued at USD6.1 billion, with an average import price of USD686/tonne.
Singapore remained vietnam’s largest petroleum supplier during the first 11 months of 2025, accounting for 33–34% of total import volume and value. Imports from singapore reached 3,026,054 tonnes, valued at USD2.1 billion, up 26% in volume and 10.7% in value year on year. In november 2025 alone, imports from singapore fell by 34.8% in volume and 30.3% in value from october, to 152,370 tonnes, worth USD111.6 million, with an average import price of USD732/tonne.
South korea ranked second, accounting for 27–28% of total imports in the first 11 months of 2025. Imports from this market reached 2,542,722 tonnes, valued at USD1.6 billion, down 11.8% in volume and 20.2% in value year on year. In november 2025, however, imports from south korea rose to 180,635 tonnes, valued at USD130.4 million, increasing 18.1% in volume and 29.5% in value, with an average price of USD722/tonne.
Malaysia ranked next, accounting for 15–16% of total import volume and value. In the first 11 months of 2025, imports from malaysia reached 1,457,221 tonnes, valued at USD958.2 million, representing declines of 25.7% in volume and 37.8% in value. In november 2025, imports from this market fell 12.2% in volume and 11.7% in value, with an average price of USD649/tonne.
Imports from china accounted for approximately 14% of total volume and value in the first 11 months of 2025, reaching 1,280,105 tonnes, valued at USD908.9 million, up 23.6% in volume and 10.7% in value year on year. In november 2025 alone, imports surged to 152,953 tonnes, worth USD117.7 million, increasing 54.8% in volume and 63.0% in value, with an average import price of USD769/tonne.
Thailand accounted for around 4% of total imports. In the first 11 months of 2025, imports from thailand fell sharply to 361,118 tonnes, valued at USD259.7 million, down 51.2% in volume and 53.7% in value. In november 2025, imports from thailand reached 42,492 tonnes, worth USD33.1 million, declining 42.0% in volume and 35.1% in value, with an average price of USD780/tonne. (Calculated based on data released on 10 December 2025 by Vietnam Customs)

Market	11 months of 2025		Year on year		Share
	Volume (tonnes)	Value (USD’000)	Volume (%)	Value (%)	Volume (%)	Value (%)
Total	9,018,962	6,193,942	-2.6	-13.4	100.0	100.0
Singapore	3,026,054	2,126,694	26.0	10.7	33.5	34.3
South korea	2,542,722	1,696,768	-11.8	-10.7	28.1	27.3
Malaysia	1,457,221	958,223	-25.7	-20.2	16.1	15.4
China	1,280,105	908,893	23.6	10.7	14.1	14.6
Thailand	361,118	259,758	-51.2	-53.7	4.0	4.1

According to preliminary data from the general department of customs, vietnam’s petroleum exports in november 2025 declined by 1.4% in volume but increased by 6.4% in value month on month, reaching 106,891 tonnes, valued at USD75.1 million. The average export price stood at USD702/tonne.
Cumulatively in the first 11 months of 2025, petroleum exports totaled 1,253,091 tonnes, valued at USD848.9 million, representing sharp declines of 42.3% in volume and 51.6% in value year on year.
South korea remained vietnam’s largest export market. In the first 11 months of 2025, exports to this market reached 280,215 tonnes, valued at USD221.1 million, up 30.8% in volume and 17.3% in value, accounting for 22–26% of total export volume and value. In november 2025, exports to south korea reached 20,670 tonnes, worth USD16.1 million, increasing 14.1% in volume and 14.4% in value, with an average export price of USD783.6/tonne.
Exports to china accounted for over 20–24% of total volume and value, reaching 256,760 tonnes, valued at USD203.7 million in the first 11 months of 2025, up 43.8% in volume and 25.3% in value year on year. In november 2025, exports to china increased 42.8% in volume and 43.8% in value, with an average export price of USD838/tonne.
Cambodia ranked next, accounting for around 17% of total volume and 18% of total value. Exports to this market reached 217,367 tonnes, valued at USD155.4 million, down 40.8% in volume and 46.2% in value year on year. In november 2025, exports totaled 22,271 tonnes, worth USD16.4 million.
Singapore followed, accounting for 24% of total export volume and value, with exports reaching 301,411 tonnes, valued at USD148.7 million, up 17.5% in volume but down 4.8% in value. In november 2025, exports to singapore stood at 17,498 tonnes, worth USD7.1 million.
Malaysia accounted for 7–9% of total exports. In the first 11 months of 2025, exports to malaysia reached 121,295 tonnes, valued at USD61.5 million, up 74.2% in volume and 95.8% in value. In november 2025, exports totaled 13,388 tonnes, valued at USD8.0 million.
Exports to laos accounted for only a small share of vietnam’s total petroleum exports.
Source: general department of customs
Petroleum exports in the first 11 months of 2025

Market	11 months of 2025		Year on year		Share
	Volume (tonnes)	Value (USD’000)	Volume (%)	Value (%)	Volume (%)	Value (%)
Total	1,253,091	848,978	-42.3	-51.6	100.0	100.0
South Korea	280,215	221,121	30.8	17.3	22.3	26.0
China	256,760	203,777	43.8	25.3	20.4	24.0
Cambodia	217,367	155,403	-40.8	-46.2	17.3	18.3
Singapore	301,411	148,704	17.5	-4.8	24.0	17.5
Malaysia	121,295	61,598	74.3	95.8	9.6	7.2
Laos	20,244	14,150	-67.8	-72.0	1.7	1.8

Outlook
In January 2026, crude oil prices were expected to fluctuate within the range of USD58–62/barrel. JPMorgan projected brent crude prices at USD58/barrel and wti crude at USD54/barrel in 2026, while forecasting prices to ease to USD57/barrel for brent and USD53/barrel for wti by 2027.
T.Huong
Source: Vitic