Scheduled Petrol Price Adjustment Following the National Reunification Holiday Anniversary
Petrol Pricing Shuffle during Holidays in Vietnam:
VIBE: Here's a lowdown on how petrol prices take a twirl during public holidays in Vietnam's capital, Hà Nội.
The Scoop:The Department of Domestic Market Management and Development under the Ministry of Industry and Trade has announced a tweak to the petrol pricing schedule due to the prolonged public holiday celebrating National Reunification Day (April 30) and International Labour Day (May 1).
Regular petrol price adjustments ordinarily take place on Thursdays. However, given that Thursday, May 1, 2025, corresponds with the Labour Day holiday, the next price adjustment, following the session on April 24, will be delayed until Monday, May 5, 2025, which is the first workday after the holiday break.
Details on this adjustment can be found in Official Dispatch No. 589/TTTN-XD, sent to Departments of Industry and Trade in centrally governed provinces and cities, primary petrol traders, and petrol distribution businesses.
According to the decree, if the regular adjustment day (Thursdays) falls on a public holiday, the pricing adjustment should be conducted on the following workday. If Thursday signifies the start of a holiday period, the adjustment might move to the preceding Wednesday instead.
The intention behind this adjustment is to keep petrol price management steady and regulatory-compliant, while streamlining business activities and maintaining market equilibrium during the forthcoming extended holiday period.
Now, for the Deets:Vietnam's petrol pricing tweaks during public holidays involve particular rescheduling protocols. When the regular adjustment day (usually Thursdays) aligns with a public holiday, the adjustment is postponed to the first workday following the holiday's end. If the holiday begins on a Thursday, the adjustment may happen on the preceding Wednesday instead.
The process is jointly managed by the Ministry of Industry and Trade and the Ministry of Finance. Petrol prices are determined by global market fluctuations and domestic stabilization fund usage, though the fund wasn't utilized in recent adjustments, such as the one in April[5]. Post-holiday adjustments often capture accumulated global price trends and demand alterations, such as transport costs dropping following holiday-related fuel price drops in March 2025[2].
Customers refuel at a Petrolimex petrol station in Hà Nội. - VNA/VNS Photo
- The upcoming petrol price adjustment in Vietnam, following the session on April 24, 2025, has been delayed due to the prolonged public holiday celebrating National Reunification Day (April 30) and International Labour Day (May 1), and will occur on Monday, May 5, 2025.
- According to Official Dispatch No. 589/TTTN-XD, the Ministry of Industry and Trade and the Ministry of Finance are responsible for managing Vietnam's petrol pricing adjustments during public holidays.
- Characterized by particular rescheduling protocols, the petrol pricing tweaks during public holidays in Vietnam ensure steady petrol price management, while streamlining business activities and maintaining market equilibrium.
- Petrol prices are determined by global market fluctuations, domestic stabilization fund usage, and demand alterations locally, as seen in the post-holiday adjustments that capture accumulated global price trends and changes in demand.
- Regulatory compliance and industry collaboration are essential, as shown during the scheduling of the petrol adjustment following the public holiday period, ensuring seamless operations within the petroleum and finance industries.
