Vietnam's gasoline and diesel prices are the cheapest compared to neighboring countries.
Following two consecutive sharp declines, domestic fuel prices have fallen significantly, making Vietnam the cheapest fuel country compared to neighboring nations.
After two consecutive sessions of sharp declines, the overall market level...domestic fuel pricesThe price has fallen sharply, pushing Vietnam's prices among the lowest in the region. According to the Ministry of Industry and Trade, gasoline prices in Vietnam are currently only...24,330 VND/literThis is significantly lower than all neighboring countries sharing a border. At the same time, in the Philippines, more than 400 gas stations have had to close due to excessively high fuel prices.
Comparing gasoline prices in Vietnam with other countries in the region.
Regarding petrol prices, Singapore currently has the highest in the region, at approximately...71,357 VND/liter— nearly three times the price of gasoline in Vietnam. Laos recorded the highest level.47,682 VND/liter, almost double the domestic price.
In Cambodia, the price of gasoline is approximately35,789 VND/liter(with price subsidies). China approximately34,827 VND/literwith a state-controlled price mechanism. Thailand is at the level28,166 VND/liter, which is directly subsidized by the Government.
In Vietnam, gasoline prices are currently at this level.24,330 VND/liter— the lowest among the countries being compared.
Comparing Vietnam's oil prices with those of other countries in the region.
Regarding oil prices, Singapore continues to be the market with the highest prices, at approximately...76,703 VND/literLaos is at the level50,624 VND/liter, Cambodia approximately46,625 VND/literChina maintains the level31,733 VND/literwith a state-controlled price mechanism. Thailand is at the level26,471 VND/liter(Subsidized).
In Vietnam, the current oil price is approximately35,380 VND/literThe Ministry of Industry and Trade assesses that domestic gasoline and diesel prices are at an average level, lower than those in neighboring countries.
| Nation | Gasoline prices (VND/liter) | Oil prices (VND/liter) | Note |
|---|---|---|---|
| Singapore | 71,357 | 76,703 | |
| Laos | 47,682 | 50,624 | |
| Cambodia | 35,789 | 46,625 | Subsidies |
| China | 34,827 | 31,733 | Price control |
| Thailand | 28,166 | 26,471 | Subsidies |
| Vietnam | 24,330 | 35,380 |
Philippines: Over 400 gas stations closed, RON 95 gasoline price rises to 49,000 VND/liter.
More than 400 gas stations across the Philippines have simultaneously ceased operations amid soaring fuel prices, reflecting increasing pressure on the Southeast Asian nation's energy market.
According to the Philippine National Police (PNP), the number of gas stations closed nationwide has increased.403 stationsThis is compared to the 273 stations recorded just a few days earlier. Speaking at a press conference, PNP spokesperson Randulf Tuano said authorities are closely monitoring the situation and increasing surveillance.14,000 gas stationsOperating nationwide.
This development comes as fuel prices in the Philippines continue to rise due to fluctuations in global oil prices. Forecasts indicate that the price of RON 95 gasoline in the Philippines will increase this week.83.1 Peso/liter to 109.78 Peso/liter, equivalent to approximatelyThe price increased from 37,000 VND/liter to 49,000 VND/liter.— double the price of RON 95 gasoline in Vietnam (24,330 VND/liter).
Fuel tax exemption policy: A decision in the national interest.
The fact that Vietnam's gasoline and diesel prices are the lowest in the region is due to the close and flexible management of fuel prices by the Prime Minister in accordance with developments in the global market.
In particular, from March 26th, the Prime Minister issued a decision to reduce all taxes on gasoline, diesel, and aviation fuel when necessary for the national interest. This is considered an urgent and effective solution to stabilize the petroleum market and ensure national energy security amidst complex conflicts and tensions.
Specifically, the wordFrom 0:00 on March 27th until the end of April 15thThe environmental protection tax on gasoline (excluding ethanol), diesel fuel, and aviation fuel has been reduced.0 VND/literThese items are not subject to value-added tax declaration and payment, but are still eligible for input tax deduction. The excise tax on gasoline has also been adjusted to the current level.0%.
Previously, on March 20, the Politburo issuedConclusion 14The Party Committee and the Government are requested to immediately implement fiscal, monetary, and price stabilization policies to minimize the impact of fuel price fluctuations on domestic production and business activities.
This decision demonstrates a proactive approach to governance, requiring agencies to closely monitor market developments, utilize a comprehensive range of policy tools, and build long-term foundations for national energy security.
