The record-breaking rise in fuel prices in recent days has caused fuel costs in Vietnam to soar, creating a major shock to the economy and everyday social life.
However, what has angered public opinion is not only the size of the price increase, but also the puzzling inaction of the so-called Petroleum Price Stabilization Fund — a mechanism that was created specifically to regulate prices.
As of the end of the third quarter of 2025, this fund reportedly still had a surplus of more than VND 5.6 trillion, an enormous sum taken from the public through every liter of gasoline purchased. So why, at the most critical moment, has it not been used?
There is information suggesting that the authorities are considering amendments to the regulations so that the fund may only be activated when prices rise continuously for an entire month and exceed a threshold of 20%.
This has led the public to ask: if a stabilization tool can only be used after the market has already entered a prolonged and critical state, then where is the value of rapid response?
According to experts, requiring people to bear a surcharge through fuel prices in order to maintain a reserve stabilization fund that cannot be used when needed is unfair.
The continued existence of the Price Stabilization Fund is revealing systemic flaws. Specifically, the fund is essentially based on collecting money from the public when prices are low in order to offset prices when they are high.
Yet in practice, it has instead created a harmful delay caused by administrative procedures. When global prices fall, people still have to contribute to the fund; when global prices rise, they must then wait through lengthy and complicated approval procedures.
Public opinion holds that the time has come for Vietnam to seriously consider allowing fuel prices to operate under market mechanisms, combined with reductions in import duties and special consumption tax, as this would be the best solution for consumers.
