The Domestic Market Management and Development Department (Ministry of Industry and Trade) has just issued an urgent document notifying localities and gasoline and oil businesses about the implementation of the gasoline and oil price management time according to Resolution No. 36/NQ-CP dated March 6, 2026 of the Government.
On March 7, 2026, the Domestic Market Management and Development Department issued urgent document No. 587 to the Departments of Industry and Trade of provinces and cities; key petroleum traders; petroleum producers and petroleum distributors on the time of petroleum price management according to Resolution No. 36/NQ-CP of the Government.
Previously, on March 6, 2026, the Government issued Resolution No. 36/NQ-CP on the regular Government meeting in February 2026, which included content related to the mechanism for managing gasoline and oil prices.
According to the Resolution, the Government agrees to let the Ministry of Industry and Trade preside over and coordinate with the Ministry of Finance to adjust gasoline and oil prices when the base price of one of the commonly consumed gasoline and oil items on the market increases by 7% or more compared to the base price of the immediately preceding operating period. After this increase occurs, the Ministry of Industry and Trade will implement price management and announce the base price of gasoline and oil according to regulations.
In case the base price of gasoline and oil increases by less than 7% compared to the previous operating period, the management of gasoline and oil prices will continue to be carried out periodically on Thursdays every week, according to the provisions of Clause 11, Article 1 of Decree No. 80/2023/ND-CP of the Government.
According to current regulations, based on the data of factors constituting the base price of gasoline and oil and the opinions participating in price management of the Ministry of Finance sent in writing before 12:00 on the operating day, the Ministry of Industry and Trade will announce the base price and retail price of gasoline and oil.
The Domestic Market Management and Development Department requests the Departments of Industry and Trade of provinces and cities and petroleum businesses to proactively update and organize implementation in accordance with the contents of the Resolution.
