As the conflict in the Middle East continues to disrupt oil flows and push diesel prices to record highs, major oil exporters are holding back from increasing output. Oil prices have eased after the G7 agreed to release 100 million barrels of crude oil and diesel from strategic reserves, but the “black gold” market remains at risk of a prolonged period of high prices.

The publication of the E10RON95-III base price began from this pricing period under Government Resolution No. 29/2026/NQ-CP, as part of efforts to align domestic fuel prices with global market developments and improve price management.

Recent developments in the Middle East, particularly those involving Iran, have raised concerns that the era of cheap oil may be drawing to a close. In response, the energy policies of many countries are shifting towards proactive adaptation to a new price and risk environment.

Escalating conflict in the Middle East has pushed the global energy market into a period of serious instability, with oil prices rising steadily while supply continues to tighten. In this context, many countries are rushing to release strategic reserves in an effort to cool the surge in oil prices.

Petrol prices rose while oil prices continued to decline in the latest adjustment announced on October 16 by the Ministry of Industry and Trade and the Ministry of Finance.

The retail prices of petrol rose slightly from 3pm on September 18 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance amidst fluctuations in international oil prices, exchange rate volatility, and existing regulatory frameworks.

Oil prices were mixed a day after the world's major oil producers announced moderate production cuts. Oil-exporting countries declared their readiness to protect oil prices, while importers tried to restrain and impose a ceiling on the price of black gold.