As global energy markets turn volatile, Vietnam has activated fiscal, regulatory and supply measures to cushion domestic fuel prices and safeguard economic stability.

The Ministry of Industry and Trade has proposed allowing petroleum companies to determine retail fuel prices, with government agencies shifting toward monitoring and post-inspection.

As oil prices climb amid Middle East tensions, logistics costs are rising worldwide - posing fresh challenges for export-driven economies such as Vietnam.

Prime Minister Pham Minh Chinh has ordered tighter oversight of the fuel market, stressing that petrol stations must not suspend sales without valid reasons amid concerns about supply stability.

Fuel prices have skyrocketed by VND5,703–VND15,622 per liter in just 10 days. Many sellers have requested an additional VND5,000 per order in delivery fees and raised the prices of a range of goods.

Despite recent increases, Vietnam’s RON95 gasoline price is still lower than equivalent fuel prices in several neighboring countries.

Amid sharp fluctuations in fuel prices, the Ministry of Industry and Trade has instructed gasoline wholesalers and distributors not to hoard fuel in anticipation of higher prices and to ensure uninterrupted supply.

On March 10, PM Pham Minh Chinh chaired a meeting with ministries, agencies and the energy security task force to discuss ensuring proactive energy supply for socio-economic development amid Middle East tensions affecting global energy supply chains.

Escalating tensions in the Middle East may push global oil prices higher, raising concerns about inflation, production costs and financial market sentiment.

Vietnam’s aviation authority warns of a potential Jet A-1 fuel shortage from April as supply disruptions and soaring prices linked to Middle East tensions ripple through the market.

As fuel prices surge and global supply tensions intensify, Vietnam is accelerating its transition toward E10 biofuel, a move seen as a strategic step to ease pressure on conventional gasoline supplies.

Facing rising global oil prices and potential supply disruptions, Vietnam’s Ministry of Industry and Trade has called on citizens and businesses to save fuel and consider alternative transport options.

Many petrol stations across Vietnam have started limiting the amount of fuel each customer can purchase as prices surge and demand spikes sharply.

Prime Minister Pham Minh Chinh said Vietnam has mobilized roughly 4 million barrels of oil from partners to ensure short-term supply and help calm market concerns.

On the evening of March 9, Prime Minister Pham Minh Chinh held phone calls with the leaders of the United Arab Emirates (UAE) and Qatar to discuss energy cooperation.

The government has issued a new decree reducing import tariffs on several fuel products and petroleum inputs to zero percent to help stabilize domestic supply.

A VRT representative said the adjustment had been carefully considered to partly share the burden of rising fuel costs while still ensuring service quality as well as safe and stable operations.

Prompt policy measures by the Government and relevant ministries have helped stabilise Vietnam’s fuel market and curb hoarding, despite sharp global oil price fluctuations driven by tensions in the Middle East.

Amid escalating geopolitical tensions worldwide, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan has emphasized that Vietnam should shift to biofuel gasoline as soon as possible.

Vietnam’s railway sector raises passenger fares by 10% and freight rates by 15%, while interprovincial bus operators also increase ticket prices as diesel costs exceed VND30,000 per liter.