Just two days after the sharp drop in global oil prices, domestic fuel prices underwent a significant adjustment starting on the evening of November 3rd. E5 RON92 at Petrolimex Region 1 dropped to 23,200 VND/liter, while diesel decreased by as much as 1,370 VND/liter.
World oil prices remain low today, November 4th.
According to the updated data used in this article, WTI oil was priced at $96.71 per barrel on November 4th, a slight increase of $0.37 from $96.34 per barrel on November 3rd, equivalent to approximately 0.38%.
Meanwhile, Brent crude fell slightly from $104.31 per barrel to $104.27 per barrel, a decrease of $0.04, or approximately 0.04%.
| Type of oil | November 3, 2026 | 4/11/2026 | Change | Proportion |
|---|---|---|---|---|
| WTI | $96.34 per barrel | $96.71 per barrel | +0.37 USD | +0.38% |
| Brent | $104.31 per barrel | $104.27 per barrel | -0.04 USD | -0.04% |
At the time of this update, WTI was fluctuating between $96.68 and $96.79 per barrel, while Brent was between $104.26 and $104.94 per barrel.
Current levels are significantly lower than at the beginning of November, when WTI was above $102 and Brent above $111 per barrel.
The most recent international trading session also showed that oil remains under pressure. Reuters reported Brent crude closed on November 3rd at $103.60 per barrel, its lowest level in nearly four weeks, while WTI closed at $96.09 per barrel. The market is balancing expectations that negotiations may ease geopolitical tensions with the lingering supply risks.
This data shows that after a drop of more than 7% earlier in the week, oil has not yet rebounded strongly. This is a more favorable sign for refined petroleum product prices in the region.
Domestic fuel prices today, November 4th.
In Vietnam, Petrolimex adjusted its price list effective from 10 PM on November 3, 2026. These prices will remain in effect until the next price adjustment period.
Unit: VND/liter
| Product | Region 1 | Region 2 |
|---|---|---|
| E10 RON 95-V gasoline | 24,230 | 24,710 |
| E10 RON 95-III gasoline | 23,230 | 23,690 |
| E5 RON 92-II gasoline | 23,200 | 23,660 |
| DO 0.001SV | 30,270 | 30,870 |
| DO 0.05S-II | 28,870 | 29,440 |
| 2-K kerosene | 29,010 | 29,590 |
According to the Ministry of Industry and Trade the maximum selling prices after the special adjustment period are as follows: E5 RON92 will not exceed 23,203 VND/liter, a decrease of 1,020 VND/liter; E10 RON95-III will not exceed 23,231 VND/liter, a decrease of 928 VND/liter; and diesel 0.05S will not exceed 28,876 VND/liter, a decrease of 1,370 VND/liter.
How much has Petrolimex reduced prices compared to November 1st?
Compared to the previously applied price list, Petrolimex Region 1 recorded a significant reduction in most products.
| Product | November 1st | From 10 PM on November 3rd | Change |
|---|---|---|---|
| E10 RON 95-V | 24,950 | 24,230 | -720 |
| E10 RON 95-III | 24,150 | 23,230 | -920 |
| E5 RON 92-II | 24,220 | 23,200 | -1.020 |
| DO 0.001SV | 31,640 | 30,270 | -1,370 |
| DO 0.05S-II | 30,240 | 28,870 | -1,370 |
| 2-K kerosene | 29,590 | 29,010 | -580 |
Thus, diesel saw the sharpest price reduction at 1,370 VND/liter. Within the gasoline group, E5 RON92 decreased by 1,020 VND/liter, E10 RON95-III by 920 VND/liter, and E10 RON95-V by 720 VND/liter.
Notably, E5 RON92 in Region 1 is currently priced at 23,200 VND/liter, about 30 VND/liter lower than E10 RON95-III.
Why did gasoline and diesel prices drop unusually at 10 PM on November 3rd?
This is not a regular scheduled maintenance period.
The Ministry of Industry and Trade stated that the rapid decline in world petroleum product prices has caused the base price of gasoline to fall by over 10% compared to the previous period. This fluctuation exceeds the regulated threshold, therefore the regulatory agency implemented the adjustment from 10 PM on November 3rd instead of waiting until Thursday.
During this period, the Fuel Price Stabilization Fund was allocated 700 VND/liter for bio-gasoline; no allocation was made for diesel and fuel oil. No disbursements from the Stabilization Fund were made for the announced items.
This drop comes after world oil prices plummeted by more than 7% earlier this week and fairly quickly reflects the downward trend in refined product prices.
Could gasoline and diesel prices fall further on November 5th?
According to the usual schedule, the next trading session is expected to take place at 3 PM on Thursday, November 5, 2026.
However, contrary to predictions made earlier in the week, the majority of the sharp decline in finished product prices was already reflected early through a special adjustment on the evening of November 3rd.
Therefore, the decline in world oil prices over the past two days should not be used to predict a similar sharp drop in gasoline prices on November 5th.
Current signals remain relatively favorable. WTI is hovering around $96-$97 per barrel and Brent around $104 per barrel, significantly lower than the levels above $102 and $111 at the beginning of the week.
If finished product prices continue to fall on November 4th, further declines are still possible. Conversely, since a large portion of the volatility has already been reflected from the evening of November 3rd, the adjustment on November 5th may be smaller, or some items may remain relatively stable.
One point to monitor further is the Price Stabilization Fund. The allocation of 700 VND/liter for bioethanol fuel from the evening of November 3rd could affect the final price if the regulatory agency changes the fund’s plan in the next period.
Assessment
Compared to November 3rd, the market landscape has changed significantly.
Domestic retail prices are no longer “waiting to reflect” the more than 7% drop in world oil prices, as a significant portion has already been factored into the price reduction at 10 PM on November 3rd.
With WTI still below $100 and Brent around $104 per barrel, upward price pressure has significantly decreased compared to the end of October.
Based on the data from the morning of November 4th, the notable scenario for November 5th is that prices may continue to decline slightly or remain relatively stable for some commodities. There is no solid basis for another sharp drop immediately after the significant correction on the evening of November 3rd.
