The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.

The price of E5 RON92 petrol is now capped at 19,462 VND (0.75 USD) per litre, up 199 VND from the previous adjustment, while RON95-III costs no more than 19,967 VND per litre, up 269 VND.

Vietnam’s retail fuel prices were reduced for the second consecutive time from 3pm on May 8, under an urgent directive issued on the same day by the Ministry of Industry and Trade (MoIT).

The Government has implemented numerous measures to keep market prices stable and inflation under control.

According to the latest adjustment, RON 95-III, the most commonly used gasoline in Vietnam, has increased by 440 VND to 20,080 VND (0.79 USD) per litre, while E5 RON 92 has risen by 410 VND to 19,690 VND per litre.

The price of E5RON92 gasoline is capped at 19,281 VND (0.76 USD) per litre, down 680 VND, while RON95-III is priced at no more than 19,649 VND per litre, a decrease of 753 VND.

Under the new pricing, E5 RON92 gasoline is capped at 20,855 VND (0.83 USD) per litre, an increase of 257 VND from the previous rate, while RON95-III gasoline now costs 21,331 VND per litre, also up 257 VND.

The price of E5 RON92 bio-fuel is capped at 20,391 VND (0.81 USD) per litre, while RON95-III is set at 21,002 VND (0.83 USD) per litre in the adjustment, effective from from 3:00 pm on February 1.

The inflationary pressure on Vietnam in 2023 may not be high, said experts at a conference in Hanoi on January 4.

The Vietjet Aviation JSC recorded a surge in its nine-month revenue, fulfilling 85% of the target set for this year, according to its third-quarter report.

The Ministry of Finance said it does not support removing current special consumption taxes on petroleum in response to recent calls to drop taxes from the Vietnam Chamber of Commerce and Industry (VCCI).

Vietnam’s gross domestic product (GDP) growth in 2022 can reach up to 8%, surpassing the target of 6.5%, according to Director General of the General Statistics Office (GSO) Nguyen Thi Huong.

Fuel prices were slashed by over 1,000 VND per litre across the board on September 12.

Fuel prices were reduced in the latest review on August 11 by the Ministry of Industry and Trade and the Ministry of Finance, the fifth consecutive time and the fourth significant drop.

External inflation has begun to affect domestic production activities in both agriculture and industry. This is driving prices skyward, a major challenge for domestic businesses.

The July consumer price index (CPI) grew 0.4% from the previous month, contributing to the year-on-year growth of 2.54% in the first seven months of 2022, the General Statistics Office (GSO) said on July 29.

Surmounting the tensest period caused by the COVID-19 pandemic, a number of enterprises have regained growth momentum. However, rising input costs are affecting their performance.

Escalating geopolitical tensions in the world may negatively affect economic activities and inflation in Vietnam due to weaker external demand, higher prices of commodities, and disrupted supply chains.

Vietnamese airlines are suffering losses amounting to hundreds of billions of VND each month due to a surge in fuel prices, according to director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.

As the international aviation is slow to recover, Vietnam is enjoying a chance to capitalise on the domestic market as a buffer step – a “taxiing” period for a rapid recovery following the COVID-19 pandemic.