Fuel prices today, January 18th: RON 95 gasoline price increased to 18,712 VND per liter.
The global oil market is caught between concerns about Middle Eastern supply and the prospect of a global surplus. Domestic gasoline prices have risen across the board since the latest price adjustment.
In the domestic market, as of the morning of January 18, 2026, retail prices of petroleum products are being applied according to the price adjustments made on the afternoon of January 15 by the Ministry of Industry and Trade – Ministry of Finance. During this adjustment period, except for a slight decrease in fuel oil prices, most gasoline and diesel products recorded simultaneous increases.
Domestic fuel price list today, January 18, 2026
Below are the current maximum retail prices for petroleum products in the Vietnamese market:
| Item | Retail price (VND/liter or kg) | Adjustment amount (VND) |
|---|---|---|
| E5 RON 92 gasoline | 18,376 | +143 |
| RON 95-III gasoline | 18,712 | +152 |
| Diesel fuel 0.05S | 17,287 | +226 |
| Oil | 17,697 | +138 |
| Fuel oil 180CST 3.5S | 13,401 | -2 |
Notably, during this price adjustment period, the regulatory agency continued to neither allocate funds nor utilize the Fuel Price Stabilization Fund for any product group. Since the beginning of 2026, domestic fuel prices have undergone a total of 52 adjustments, closely reflecting the complex developments in the global energy market.
Global markets: A tug-of-war in the face of geopolitical risks.
World oil prices closed the trading week with significant volatility, reflecting investors' sensitivity to political signals rather than purely supply and demand factors. From the beginning of the week, oil prices were under upward pressure due to concerns about disruptions to Iranian exports. According to data from Kpler and Vortexa, the amount of Iranian oil stockpiled at sea has reached a record high, equivalent to approximately 50 days of production.
The upward momentum intensified on Tuesday as the market reacted to US President Donald Trump's announcement of a 25% tariff on countries trading with Iran. However, this trend quickly reversed after Washington issued messages aimed at easing concerns about a direct military conflict.
Pressure from US supply and inventory levels.
By Thursday, oil prices had fallen sharply by about 4%. The main reason was a report from the US Energy Information Agency (EIA) showing a larger-than-expected increase in US crude oil and gasoline inventories. In addition, Venezuela's official resumption of crude oil exports also contributed to increased supply, putting downward pressure on the market.
Oil prices recovered slightly at the end of the week due to stockpiling ahead of the US holiday season. However, analysts believe that the prospect of increased supply in 2026 could create a price ceiling, curbing geopolitical risk premiums, even as tensions in the Middle East and the Strait of Hormuz remain potential sources of instability.
