Viet Nam’s petrol and oil prices were reduced from 3pm on June 4 following the latest adjustment by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.

Prime Minister Pham Minh Chinh has directed authorities to govern petrol and oil prices in a way that ensures balanced interests among the State, businesses and consumers while maintaining stable fuel supply and preventing market disruptions.

The Ministry of Industry and Trade and the Ministry of Finance announced an increase in petroleum prices effective at 3 pm on June 26, marking the 26th fuel price adjustment this year.

Minister of Industry and Trade Nguyen Hong Dien chaired a conference in Ha Noi on June 25 to review the first 6 months of the year and deploy tasks for the last 6 months of 2025 on the supply of petroleum to the domestic market.

Vietnam recorded year-on-year growth of 3.15% in the 2022 consumer price index (CPI) while core inflation increased 2.59%, the General Statistics Office (GSO) said on December 29.

Passing through three-quarters of the year 2022, the country’s socio-economic picture has clearly expressed the strong recovery and development in most industries and fields, with many targets reaching and exceeding the plan.