Vietnam fuel prices rise further as government taps stabilisation fund

Asia

by DZRH News11 March 2026

People queue to buy petrol at a petrol station after Vietnam's trade ministry called on local businesses to encourage their employees to work from home to save fuel amid disruptions in supply and price surges triggered by the U.S.-Israeli conflict with Iran, in Hanoi, Vietnam, March 10, 2026. Picture taken with a mobile phone. REUTERS/Khanh Vu

HANOI, March 11 (Reuters) - Gasoline and diesel prices in Vietnam continued to rise on Wednesday, the trade ministry said, even though the government tapped its fuel price stabilisation fund to curb the increases brought about by the U.S.-Israeli war on Iran.

Gasoline prices jumped 7.66%, while diesel rose 1.6%, the Ministry of Industry and Trade said. Kerosene prices fell 7.7%. The ministry said it had begun to draw on the Fuel Price Stabilisation Fund, allocating 4,000 dong ($0.15) per litre for gasoline and kerosene and 5,000 dong per litre for diesel.

Vietnam's fuel stabilisation fund is designed to smooth sharp retail price swings during periods of global volatility, with fuel traders paying a fixed amount per litre of sales into the government-controlled fund.

Since the start of the U.S.-Israeli conflict with Iran, gasoline prices in Vietnam have risen by 44%, with diesel up 59% and kerosene up 66%, according to data from top fuel trader Petrolimex.

Vietnam on Tuesday called on businesses to encourage employees to work from home as part of efforts to reduce fuelconsumption.

Prime Minister Pham Minh Chinh also told the Ministry of Finance on Tuesday to scrap environmental protection taxes on fuels.

($1 = 26,249 dong)

(Reporting by Khanh Vu; Editing by David Stanway)

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