Proactively adapt to fluctuations in the energy market
From 3 pm on March 7, the price of RON95-III gasoline increased by 4,707 VND/liter, to 27,047 VND/liter; E5 RON92 gasoline increased by 3,777 VND/liter, to 25,226 VND/liter.
The oil group increased more strongly. Accordingly, diesel oil 0.05S increased by 7,202 VND/liter, to 30,239 VND/liter; kerosene increased by 8,490 VND/liter, to 3,591 VND/liter; mazut oil 180CST 3.5S increased by 3,831 VND/kg, to 21,327 VND/kg.
High gasoline and oil prices are causing the cost for each sea trip of Quang Ngai fishermen to increase significantly.
Talking to a reporter from Lao Dong Newspaper, Mr. Nguyen Thanh Hung - Chairman of Binh Chau Fisheries Union - said that oil costs usually account for about 50% of the total cost of each sea trip. With the current price, fuel costs may increase nearly double compared to about 10 days ago.
According to Mr. Hung, with each offshore fishing trip and full implementation of communication regulations, each fishing vessel is currently supported by the State from 25 to 100 million VND in fuel costs. This is considered a "lifebuoy" to help fishermen reduce cost pressure in the context of rising oil prices.
Expecting support policies to help stabilize production and life
Not only fishermen, many transport businesses are also under great pressure as fuel prices increase sharply. Talking to Lao Dong Newspaper reporters, Mr. Nguyen Thanh Phong - Director of Chin Nghia Co., Ltd. - said that although gasoline and oil prices have skyrocketed, businesses have not yet adjusted ticket prices for the time being.
However, if fuel prices continue to escalate in the near future, businesses will be forced to calculate and may propose to functional agencies to adjust ticket prices to compensate for costs," Mr. Phong said.
Meanwhile, many export businesses are also finding ways to adapt to the fluctuations of the energy market. Mr. Nguyen Van Tuyen - Director of Mega Eco Co., Ltd. - said that tensions in the Middle East have caused no small difficulties in exporting mo cau to Europe and the US. The freight rate has doubled, while the shipping time has also been extended by about 15 days compared to before.
To overcome this difficult period, we are renegotiating prices with partners in the spirit of harmonizing interests, while expanding consumption markets to some Asian countries. Initially, workers' income may be affected, but businesses are determined to maintain production to overcome this period together," Mr. Tuyen shared.
According to information from BSR, it is expected that from the end of March 2026, Dung Quat Oil Refinery will receive about 60,000 tons of biofuel (E100) from the Central Petroleum Biofuel Plant to blend into E10 gasoline.
Mr. Pham Van Vuong - Director of Central Petroleum Biofuel Joint Stock Company - said that it is expected that from March 20, 2026, the plant will operate at optimal capacity, producing about 60,000 tons of ethanol per year, an average of more than 5,000 tons per month.
Currently, the whole country has 6 ethanol fuel production plants with a total designed capacity of about 600,000 m3 per year. If the plants operate at maximum capacity, this output will only meet about 40% of the ethanol demand for blending E10 gasoline, equivalent to about 1.5 million m3 per year. The rest still needs to be supplemented from import sources.
