Vietnam fuel prices today: E10 petrol falls 1,311 dong to 19,845

What happened. On November 12, 2026, the Ministry of Industry and Trade of Vietnam, together with the Ministry of Finance, announced new base prices for fuel. They apply from 15:00 local time (08:00 UTC). Fuel traders set the pump price, no later than 15:00 that day, and the ministry names the maximum. E10 RON95-III petrol is no higher than 19,845 dong a litre, down 1,311 from the previous maximum. E5 RON92 petrol is 446 dong cheaper than E10. Diesel and mazut fell too, by 1,874 dong a litre and 2,263 dong a kilogram.

Why prices fell. The ministry says world finished-fuel prices mostly fell between the November 5 and November 12 reviews. On average, RON95 gasoline cost 106.028 dollars a barrel (down 6.88%), RON92 103.973 (down 7.67%) and diesel 152.280 (down 6.92%). The ministry names several drivers: the United States has paused new strikes on Iran for now, new attacks on tankers have appeared in the Strait of Hormuz, OPEC crude output rose in October, and talks between Russia, the United States and Ukraine continue. According to VnExpress, petrol in Vietnam is back at its February 26 level, just before the Middle East conflict began. Against the end of October, E10 is down 5,890 dong a litre.

Tax and the fund. No tax change this time. The excise tax on petrol is 0% from November 1, 2026 to March 31, 2027 under Government Resolution 45/2026/NQ-CP. VnExpress reports that the expected loss of budget revenue is more than 7,672 billion dong. The price stabilisation fund, backed by an advance from the state budget, took in contributions of 600 dong a litre on biofuel petrol and 1,000 dong a kilogram on mazut. It paid out nothing. Diesel saw neither a contribution nor a payout.

How it compares. In the ministry's table for November 12, petrol costs 30,826 dong a litre in Thailand (state-subsidised), 27,354 in Cambodia (subsidised), 44,832 in Laos and 36,125 in China (price-capped by the government). In Vietnam it is no higher than 19,845.

What comes next. The new base price stands until the ministry announces the next one. Tuoi Tre says the routine review is held every Thursday, and unscheduled ones happen too, like the evening of November 3. The next Thursday is November 19, but that is our reading, not an announcement. VnExpress also reports that the ministry is consulting on a draft decree that would let companies set prices by a formula instead of the state adjusting them periodically, and would end the stabilisation fund once it takes effect. It is only a draft. For the world side of the price, our Brent page tracks crude.

Limits. These are maximum prices, not what every station charges.

Confirmed facts

• From 15:00 local time on November 12, 2026, E10 RON95-III petrol is no higher than 19,845 dong a litre, down 1,311 from the previous maximum.^[1][2]
• E5 RON92 petrol is no higher than 19,399 dong a litre (down 1,499), 446 dong cheaper than E10.^[1][2]
• Diesel 0.05S is no higher than 26,822 dong a litre (down 1,874).^[1][2]
• Mazut 180CST 3.5S is no higher than 19,742 dong a kilogram (down 2,263), the biggest cut.^[1][2]
• Average world prices between the November 5 and 12 reviews were 106.028 dollars a barrel for RON95 gasoline (down 6.88%), 103.973 for RON92 (down 7.67%) and 152.280 for diesel (down 6.92%).^[1]
• The ministry cites a pause in new US strikes on Iran, new tanker attacks in the Strait of Hormuz, higher OPEC output in October, and Russia-US-Ukraine talks.^[1][2]
• Stabilisation fund contributions: 600 dong a litre on biofuel petrol, 0 on diesel, 1,000 dong a kilogram on mazut; no payouts from the fund.^[1][2]
• The excise tax on petrol is 0% from November 1, 2026 to March 31, 2027 under Government Resolution 45/2026/NQ-CP.^[1]
• Petrol in Vietnam is back at its February 26 level, just before the Middle East conflict began.^[3]
• Since the start of November E10 is down 5,890 dong a litre and diesel 3,420 against the end of October.^[3]
• The expected loss of budget revenue from the zero petrol excise is more than 7,672 billion dong.^[3]
• Petrol on November 12: Thailand 30,826 dong a litre (subsidised), Cambodia 27,354 (subsidised), Laos 44,832, China 36,125 (government price cap), Vietnam no higher than 19,845.^[1]
• The new base price stands until the ministry announces the next one.^[1]
• Routine price reviews are held every Thursday; an unscheduled cut was made on November 3.^[2]
• The ministry is consulting on a draft decree under which companies would set prices by a formula and the stabilisation fund would end once the decree takes effect.^[3]

Implications

• ConfirmedThe cut reflects world fuel prices, not payouts from the fund: the fund only took in contributions this time.
• Our readingThe next routine review probably falls on Thursday, November 19; a sharp move in world prices could bring an unscheduled one.
• Our readingIf the decree is adopted, Vietnamese prices could follow world prices more closely than under periodic state decisions.

Still unknown

• Where prices go at the next review: that depends on world prices over the week.
• When and in what form the draft fuel trading decree will be adopted.
• How far pump prices at stations will sit below the ministry's maximum.

Who it affects

Vietnam, Southeast Asia. Drivers, travellers and businesses that buy fuel in Vietnam or follow prices in Southeast Asia

Sources

1. Ministry of Industry and Trade of Vietnam: Thông tin về việc điều hành giá xăng dầu ngày 12/11 November 12, 2026 · official
2. Tuoi Tre: Từ 15h, giá xăng dầu tiếp tục giảm, có mặt hàng giảm gần 2.300 đồng November 12, 2026 · media
3. VnExpress: Giá xăng về dưới 20.000 đồng một lít November 12, 2026 · media