Gasoline and diesel prices dropped sharply nationwide this afternoon, October 23rd.

Fuel prices this afternoon, October 23, 2025

Updated fuel prices on October 23rd: The Ministry of Finance and the Ministry of Industry and Trade have announced a reduction in retail prices. Specifically, from 3:00 PM today, October 23rd, fuel prices have uniformly decreased compared to the previous price adjustment period.

E5 RON 92 gasoline decreased by 170 VND/liter, to 19,050 VND/liter; RON 95 gasoline decreased by 180 VND/liter, to 19,720 VND/liter.

Meanwhile, diesel fuel saw the sharpest decline, falling by 540 VND/liter to 17,880 VND/liter. Kerosene dropped by 290 VND/liter to 18,110 VND/liter, and fuel oil decreased by 280 VND/kg to 14,090 VND/kg.

The regulatory agency stated that this period neither the fuel price stabilization fund will be allocated to nor disbursed from it.

With this adjustment, domestic gasoline and diesel prices reversed their upward trend after just one day of increases. Since the beginning of the year, RON 95 gasoline has seen 24 price increases and 20 price decreases; while diesel has recorded 21 increases, 21 decreases, and one time remaining unchanged.

Currently, the fuel price stabilization fund remains in surplus, creating room for future price adjustments. According to a report by the Ministry of Finance, as of the end of the second quarter of 2025, the stabilization fund had over 5,614 billion VND. Of this amount, the Vietnam National Petroleum Group (Petrolimex) alone holds over 3,084 billion VND – accounting for nearly half of the total balance.

New tax policy will affect gasoline and diesel prices from 2026.

At its meeting on October 17th, the Standing Committee of the National Assembly approved a resolution on the environmental protection tax applicable to gasoline and diesel prices in 2026.

Accordingly, from January 1, 2026, the environmental tax rates for gasoline (excluding ethanol) will be 2,000 VND/liter; diesel fuel, fuel oil, and lubricating oil will be 1,000 VND/liter; lubricating grease will be 1,000 VND/kg; and kerosene will be 600 VND/liter.

Notably, the tax on aviation fuel has increased to 1,500 VND/liter, 500 VND higher than the current rate. With projected consumption levels similar to this year, total revenue from environmental taxes on gasoline and diesel will decrease by approximately 41,388 billion VND, leading to a decrease in total budget revenue of nearly 44,700 billion VND.

According to experts, this latest reduction in fuel prices will help ease pressure on production costs, especially for the transportation and logistics sectors. However, world oil prices remain volatile due to tensions in the Middle East and OPEC+'s production policies, so domestic fuel prices may still change in future price adjustments.

If the downward trend of Brent crude oil remains below $80/barrel, domestic gasoline and diesel prices are likely to continue to decrease slightly in the price adjustment at the beginning of November.