The Government has approved an advance of 8 trillion VND (303.7 million USD) from increased central budget revenues in 2025 to the Petrol Price Stabilisation Fund, as part of efforts to curb domestic fuel price volatility and safeguard macroeconomic stability.

The Ministry of Industry and Trade (MoIT) and the Ministry of Finance have decided to further cut retail fuel prices, effective from midnight on March 26.

Prime Minister Pham Minh Chinh chaired a meeting of standing members of the Government on funding sources to support fuel price stabilisation at the Government Headquarters on March 20.

Amid sharp fluctuations in the global energy market, particularly due to conflict in the Middle East, the Fuel Price Stabilisation Fund has become a key instrument to ease domestic petrol and diesel prices. Its recent high-level drawdowns have helped cool the market and limit impacts on households, production, and business activities.

Fuel prices were slashed by over 1,000 VND per litre across the board on September 12.