By the end of 2024, Petrolimex had already negotiated and signed long-term contracts with domestic and international suppliers to cover supply needs throughout 2025. These term contracts are expected to meet around 70 to 80% of the group’s planned monthly sales.
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Domestic fuel prices are forecast to continue fluctuating as the Israel-Iran conflict unfolds. |
To cover the remaining volume, Petrolimex will make flexible spot purchases from local refineries and international partners, ensuring supply security and compliance with State regulations on fuel reserves and inventories.
The representative stressed that the group has been closely monitoring developments in the Middle East and the Russia–Ukraine conflict to assess potential disruptions in global supply and adjust its sourcing strategy accordingly.
Petrolimex also continues to coordinate closely with the Nghi Son and Dung Quat refineries to uphold contractual commitments, while actively seeking out additional suppliers and preparing response scenarios for any major fluctuations in domestic demand or international supply.
To support these efforts, the group has proposed that State management agencies strengthen inspections of other major distributors, especially their compliance with minimum supply requirements and retail sales commitments.
Addressing recent concerns that some fuel retailers have been finding it difficult to purchase from Petrolimex amid price volatility, the company reaffirmed its commitment to honoring all supply contracts with its authorized distributors. These agents, who source exclusively from Petrolimex, continue to receive full supply.
He said that from June 1 to 19, Petrolimex's average daily domestic fuel sales rose by 19% compared to the 2024 daily average. Following the outbreak of the Iran–Israel conflict, sales between June 14 and 19 jumped by 27.3% versus the June 2024 average and by 15.3% compared to May 2025. Sales to authorized retailers alone rose 35% compared to the 2024 daily average.
On June 19, 2025, domestic fuel prices were adjusted in line with global market movements. At this adjustment session, the Ministry of Industry and Trade and the Ministry of Finance decided not to set aside or use the Petroleum Price Stabilization Fund for E5 RON92 petrol, RON95 petrol, diesel, kerosene or mazut.
As of June 23, 2025, retail fuel prices are reported as follows: E5 RON92 petrol at 20,631 VND per liter (0.79 USD), RON95-III petrol at 21,244 VND per liter, Diesel 0.05S at 19,156 VND per liter, Kerosene at 18,923 VND per liter and Mazut 180CST 3.5S: no more than 17,643 VND per kilogram.
Industry experts have said domestic fuel prices may continue fluctuating in line with global market trends. Given current developments, retail prices may see a further sharp increase in the upcoming price adjustment. Prices of RON95-III petrol are projected to rise by around 700–900 VND per liter, E5 RON92-II petrol by 600–800 VND per liter, and diesel by 1,400–1,600 VND per liter.
Source: VNA