Accordingly, E5 RON 92 rose by 1,926 VND, now capped at 21,449 VND (0.82 USD) per liter, while RON95-III went up 2,189 VND to a maximum of 22,340 per liter.
The price of diesel 0.05S was set at 23,037 VND per liter at the maximum, up 3,758 VND.
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Retail fuel prices rise sharply in March 5 adjustment. (Photo for illustration: VGP) |
Meanwhile, the prices of kerosene and mazut 180CST 3.5S are capped at 26,601 VND per liter and 17,496 VND per kg, up 7,132 VND and 1,807 VND, respectively.
In this adjustment, the ministries decided not to use the petrol and oil price stabilization fund for any of the fuel categories.
Since the beginning of this year, domestic fuel prices have been adjusted ten times, with both RON95-III and E5RON92 decreased four times and increased six times. Meanwhile, diesel prices have fallen twice and risen eight times.
According to the Ministry of Industry and Trade, the global fuel market during the latest price adjustment period from February 26 to March 4, 2026 was influenced by several major factors.
These included the escalating military conflict between the U.S.–Israel coalition and Iran, leading to disruptions to oil transportation through the Strait of Hormuz – a key maritime route that handles about 20% of global oil supply. Iran’s retaliatory attacks on Israeli and U.S. military facilities in the Middle East have forced several refineries in the region to suspend operations to avoid risks, heightening concerns over prolonged fuel supply disruptions. In addition, U.S. crude oil inventories increased while OPEC+ agreed to raise oil output starting in April. The ongoing military conflict between Russia and Ukraine also continued to weigh on the market.
These factors, particularly the escalating tensions involving the U.S., Israel and Iran, have caused global fuel prices to surge sharply in recent days.
Source: VNA