Efforts to stabilize the market amidst fluctuating gasoline and oil prices.
The sharp increase in gasoline and diesel prices in recent days is putting significant pressure on production and consumption costs. In Nghe An province, although the supply of basic goods remains secure, many essential items and services have begun to increase in price. This development is causing considerable concern among residents as the cost of living is at risk of rising if fuel prices continue to remain high.
Many items have increased in price.
According to observations at several local markets in the former Vinh City area, such as Vinh Market, Vinh Train Station Market, Hung Dung Market, etc., in the past few days, many essential food items have shown a slight upward trend, especially after the recent adjustments in gasoline and diesel prices.
Specifically, the price of lean pork currently ranges from 125,000 to 140,000 VND/kg, an increase of 5,000 to 10,000 VND/kg compared to the period before the increase in gasoline and diesel prices; beef is also following the trend, currently priced from 220,000 to 280,000 VND/kg; seafood such as mackerel, shrimp, squid, etc., have also increased by an average of 10-20%. Vegetables and fruits, while not experiencing significant price fluctuations, have also started to increase by 3,000 to 10,000 VND/kg depending on the type.
Ms. Nguyen Thi Tinh, a seafood vendor at Vinh Market, said: "Last week, with the sharp increase in fuel prices, many fishing boats in the Quynh Luu, Dien Chau, and Cua Lo areas had to reduce their trips or temporarily stay ashore because the cost of fishing trips increased significantly. As a result, the supply decreased compared to before, while transportation costs from fishing ports to the market also increased, leading to a rise in retail seafood prices."
Not only food items, but also some types of construction materials in Nghe An province are beginning to be affected by increased transportation costs. According to observations at construction material stores in Vinh City (formerly) and some neighboring localities, many items are showing a slight upward price trend recently.
Specifically, cement is currently commonly priced at 70,000 – 85,000 VND/50 kg bag; construction steel ranges from 17,000 – 18,500 VND/kg depending on the type. The price of construction sand (for building, plastering, and concrete) in many areas is currently around 450,000 – 500,000 VND/m³, and construction stone is around 300,000-350,000 VND/m³.3Some types of 6-hole bricks also increased by 300-400 VND/piece, fluctuating around 2,800-2,900 VND/piece… prices vary depending on each dealer and distributor.
Mr. Le Van Tuan, the owner of a building materials store in Vinh Loc ward, said that transportation costs are increasing significantly due to rising fuel prices. Each trip transporting materials to distant locations can incur additional fuel costs of several hundred thousand dong, while the demand for raw materials for construction projects at the beginning of the year is always high.
Alongside goods, many types of services have also begun adjusting prices. Some bus routes have started increasing ticket prices by 5-10% compared to before. Small-scale goods transportation and delivery services within the city have also increased by 5,000-10,000 VND per order depending on the distance. Some noodle, pho, and porridge shops in the former Vinh City have also posted signs increasing prices by 5,000 VND per bowl due to increased ingredient and transportation costs. According to some restaurants, they are facing a difficult situation as they tried to maintain prices to stimulate consumer demand before the Lunar New Year, but now the increase in input costs is making it more difficult to maintain the old prices.
For many families, rising gasoline and diesel prices are making daily expenses even tighter. Ms. Nguyen Thi Huong Ly, residing in Truong Vinh ward, said that in recent days, she has noticed many food items starting to increase in price at the market, from vegetables and meat to essential spices.
"Family expenses are mainly focused on daily food costs, so even a few thousand dong increase in food prices per item can significantly boost expenses. Besides that, the cost of gasoline for both of us has also increased considerably compared to before." According to Ms. Ly, previously, each grocery trip only cost a few hundred thousand dong, but recently she has to be more careful with her shopping to ensure that family expenses don't exceed the budget.
From March 1st to 13th, domestic gasoline and diesel prices were adjusted five times according to the price adjustment schedule of the Ministry of Industry and Trade - Ministry of Finance, on March 5th, 7th, 10th, 11th, and 12th, 2026.
Of those, the first three price adjustments were in the direction of sharp increases, at one point pushing the price of RON95 gasoline to over 29,000 VND/liter.
By 10 PM on March 11th, fuel prices were adjusted downwards, with RON95 gasoline decreasing by nearly 3,900 VND/liter and E5RON92 gasoline decreasing by more than 3,600 VND/liter.
From 10 PM on March 12th, the price of RON 95 gasoline increased by 330 VND to 25,570 VND per liter, diesel increased by 550 VND to 27,020 VND, and kerosene increased by 2,520 VND per liter to 26,930 VND.
Current fuel prices remain significantly higher than before the price hikes in early March, when RON95 gasoline was only around 20,151 VND/liter.
Strengthen controls and maintain market stability.
In response to the impact of rising fuel prices, authorities in Nghe An province are implementing measures to stabilize the consumer market, curb unreasonable price increases, and ensure the supply of essential goods for the people.
Speaking with reporters, Mr. Vo Quang Tuan, Deputy Director of the Department of Industry and Trade, said: Currently, the unit is closely monitoring market price developments, especially for essential goods such as food, gasoline, oil, construction materials, and transportation services. At the same time, it has directed market management forces to coordinate with localities to strengthen inspections of price listings at markets, supermarkets, and businesses; promptly detect and handle cases of exploiting fluctuations in gasoline and oil prices to unreasonably increase prices or hoard goods, protecting consumer rights.
We request that distribution businesses, retail systems, supermarkets, and wholesale markets in the area proactively develop plans for stockpiling goods, ensuring a sufficient supply of essential items to meet people's needs, preventing shortages or the exploitation of fuel price fluctuations to drastically increase prices. At the same time, the Department also advises people to promptly report any businesses showing signs of unreasonable price increases, failure to display prices, or violations of regulations on goods trading to the authorities for inspection, verification, and handling according to regulations.
Mr. Vo Quang Tuan – Deputy Director of the Department of Industry and Trade
In addition, the Department of Industry and Trade is coordinating with gasoline and oil businesses in the area to closely monitor the supply, ensuring that retail outlets operate stably and meet the consumption needs of people and businesses. Wholesale and distribution traders are required to maintain reserve levels as regulated and proactively secure supplies to avoid supply disruptions.
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Mr. Nham Sy Thanh, Director of Lotte Mart Vinh supermarket, said that the recent increase in gasoline and diesel prices has put certain pressure on the unit's transportation and import costs. Most of the goods at the supermarket are transported from distribution centers or from other provinces and cities, so when fuel prices rise, logistics costs also increase.
However, according to Mr. Thanh, at present, the prices of goods at the supermarket are still being listed and sold in accordance with the commitment to stabilize prices for consumers. "We are proactively working with suppliers, and at the same time, optimizing transportation and distribution to maintain stable prices as much as possible," Mr. Thanh said.
However, Mr. Thanh also acknowledged that if gasoline and diesel prices continue to remain high for an extended period, the pressure on costs will increase, especially for goods that need to be transported in large quantities from outside the province. In that case, businesses will be forced to recalculate their cost structure and import plans to ensure stable business operations.
In the context of fluctuating gasoline and diesel prices, closely monitoring market developments and proactively implementing management solutions are considered crucial factors in limiting the ripple effect on the overall price level. With the involvement of regulatory agencies and the efforts of businesses in stabilizing supply and controlling costs, the commodity market in Nghe An province is expected to remain stable. This will help alleviate the financial burden on people and create a favorable environment for production and business activities.
