The joint ministries of Industry and Trade and Finance conducted price revisions on Feb. 5, 12 and 20 to ensure domestic fuel prices moved in line with international markets, while maintaining a reasonable price gap between biofuel E5RON92 and mineral gasoline RON95 in line with government policy encouraging biofuel consumption. The authorities also sought to balance the interests of market participants, including importers, distributors and consumers.
According to retail prices announced by Petrolimex, a comparison between Feb. 20 and Feb. 1 shows that E5RON92 gasoline rose by 295 dong per litre (1.6%), RON95-III increased by 307 dong per litre (1.6%), diesel gained 352 dong per litre (1.9%), kerosene climbed 439 dong per litre (2.4%), and fuel oil jumped by 1,229 dong per kg (8.4%).
February Retail Price Adjustments
Feb. 20, 2026 Adjustment (effective 15:00 local time)
The ministries decided not to make contributions to, nor disburse from, the Petroleum Price Stabilization Fund for E5RON92, RON95, diesel, kerosene and fuel oil. Retail ceiling prices were set as follows:
· E5RON92 gasoline: not higher than 18,634 dong/litre (down 200 dong from the previous base price), 518 dong/litre cheaper than RON95-III.
· RON95-III gasoline: not higher than 19,152 dong/litre (down 146 dong).
· Diesel 0.05S: not higher than 18,525 dong/litre (up 62 dong).
· Kerosene: not higher than 18,615 dong/litre (up 103 dong).
· Fuel oil 180CST 3.5S: not higher than 15,862 dong/kg (up 293 dong).
Feb. 12, 2026 Adjustment (effective 15:00)
Again, no use of the stabilization fund was applied. Retail ceiling prices were:
· E5RON92: not higher than 18,834 dong/litre (up 395 dong), 464 dong cheaper than RON95-III.
· RON95-III: not higher than 19,298 dong/litre (up 418 dong).
· Diesel 0.05S: not higher than 18,463 dong/litre (up 10 dong).
· Kerosene: not higher than 18,512 dong/litre (up 122 dong).
· Fuel oil 180CST 3.5S: not higher than 15,569 dong/kg (down 419 dong).
Feb. 5, 2026 Adjustment (effective 15:00)
No stabilization fund intervention was made. Retail ceiling prices were:
· E5RON92: not higher than 18,439 dong/litre (down 100 dong), 441 dong cheaper than RON95-III.
· RON95-III: not higher than 18,880 dong/litre (down 35 dong).
· Diesel 0.05S: not higher than 18,453 dong/litre (up 280 dong).
· Kerosene: not higher than 18,390 dong/litre (down 214 dong).
· Fuel oil 180CST 3.5S: not higher than 15,150 dong/kg (up 517 dong).
Overall, February saw moderate upward momentum in retail gasoline and diesel prices, with fuel oil showing the strongest relative gain over the month.
Imports
Preliminary data from the Vietnam Customs Department show that in January 2026, Vietnam imported 1,119,126 tonnes of petroleum products worth $722.79 million, accounting for 1.61% of the country’s total import value. The average import price stood at $645.86 per tonne.
Compared with December 2025, imports rose 19.09% in volume, fell 4.17% in price and increased 14.12% in value. Year-on-year, imports surged 39.55% in volume, declined 12.15% in price and rose 22.59% in value.
Breakdown by Market – January 2026
Singapore remained Vietnam’s largest supplier:
· Volume: 388,772 tonnes
· Value: $244,848,664
· Average price: $629.80/tonne
· Share: 34.74% of total volume, 33.88% of total import value
· MoM: +17.06% volume, -2.43% price, +14.21% value
· YoY: -2.31% volume, -16.10% price, -18.04% value
Malaysia ranked second:
· Volume: 263,603 tonnes
· Value: $171,818,880
· Average price: $651.81/tonne
· Share: 23.55% volume, 23.77% value
· MoM: +166.74% volume, -4.34% price, +155.17% value
· YoY: +243.16% volume, -2.76% price, +233.67% value
South Korea ranked third:
· Volume: 254,992 tonnes
· Value: $157,859,107
· Average price: $619.07/tonne
· Share: 22.78% volume, 21.84% value
· MoM: +19.54% volume, -2.91% price, +16.05% value
· YoY: +38.61% volume, -12.73% price, +20.97% value
Thailand ranked fourth:
· Volume: 105,930 tonnes
· Value: $71,102,557
· Average price: $671.22/tonne
· Share: 9.47% volume, 9.84% value
· MoM: +42.46% volume, -3.16% price, +37.96% value
· YoY: +395.76% volume, -13.16% price, +330.53% value
China ranked fifth:
· Volume: 105,807 tonnes
· Value: $77,149,907
· Average price: $729.16/tonne
· Share: 9.45% volume, 10.67% value
· MoM: -25.63% volume, -5.95% price, -30.05% value
· YoY: +9.33% volume, -3.61% price, +5.39% value
Vietnam Petroleum Imports – January 2026

Market	Volume (tonnes)	Value (USD)	Avg Price (USD/tonne)	YoY Volume (%)	YoY Price (%)	YoY Value (%)
Total	1,119,126	722,779,115	645.86	+39.55	-12.15	+22.59
Singapore	388,772	244,848,664	629.80	-2.31	-16.10	-18.04
Malaysia	263,603	171,818,880	651.81	+243.16	-2.76	+233.67
South Korea	254,992	157,859,107	619.07	+38.61	-12.73	+20.97
Thailand	105,930	71,102,557	671.22	+395.76	-13.16	+330.53
China	105,807	77,149,907	729.16	+9.33	-3.61	+5.39

Exports
Vietnam exported 52,755 tonnes of petroleum products in January 2026, worth $23.95 million, accounting for 0.06% of total export turnover. The average export price stood at $454.02 per tonne.
Compared with December 2025, exports fell 59.01% in volume, 37.59% in price and 74.41% in value. Year-on-year, exports dropped 48.27% in volume, 37.78% in price and 67.82% in value.
Breakdown by Market – January 2026
Thailand was the largest export market:
· Volume: 26,315 tonnes
· Value: $13,906,160
· Average price: $528.45/tonne
· Share: 49.88% volume, 58.06% value
· YoY: +65,687.50% volume, -40.62% price, +38,962.25% value
Singapore ranked second:
· Volume: 12,497 tonnes
· Value: $4,757,139
· Average price: $380.66/tonne
· Share: 23.69% volume, 19.86% value
· YoY: -41.39% volume, -25.38% price, -56.26% value
Malaysia ranked third:
· Volume: 12,006 tonnes
· Value: $3,980,905
· Average price: $331.57/tonne
· Share: 22.76% volume, 16.62% value
Laos ranked fourth:
· Volume: 1,689 tonnes
· Value: $1,098,589
· Average price: $650.44/tonne
· Share: 3.2% volume, 4.59% value
· YoY: -30.61% volume, -11.07% price, -38.29% value
Vietnam Petroleum Exports – January 2026

Market	Volume (tonnes)	Value (USD)	Avg Price (USD/tonne)	YoY Volume (%)	YoY Price (%)	YoY Value (%)
Total	52,755	23,951,857	454.02	-48.27	-37.78	-67.82
Thailand	26,315	13,906,160	528.45	+65,687.50	-40.62	+38,962.25
Singapore	12,497	4,757,139	380.66	-41.39	-25.38	-56.26
Malaysia	12,006	3,980,905	331.57	—	—	—
Laos	1,689	1,098,589	650.44	-30.61	-11.07	-38.29

Market Overview
Vietnam’s February fuel market reflected continued sensitivity to global crude oil movements and currency fluctuations. Import volumes remained elevated in January, particularly from Malaysia and Thailand, while export activity contracted sharply both month-on-month and year-on-year.
The steady policy of not drawing from the stabilization fund across three consecutive price adjustments suggests authorities are allowing domestic prices to track global benchmarks more closely, while still maintaining policy objectives related to biofuel promotion and market stability.
With international oil markets volatile and regional trade flows shifting, Vietnam’s petroleum trade balance and retail pricing are likely to remain responsive to global supply-demand dynamics in the coming months.