Rising fuel prices driven by tensions in the Middle East are pushing up production and transportation costs, prompting many businesses to accelerate energy-saving measures and shift towards electricity.

The Customs Department under the Ministry of Finance has issued a directive to regional customs offices to strengthen inspection and enforcement to combat illegal transport and cross-border smuggling of petrol and oil products.

Under the proposal, during the resolution’s validity period, the environmental protection tax on petrol (excluding ethanol) and aviation fuel would be reduced from 2,000 VND (0.076 USD) per litre to 1,000 VND per litre.

From carpooling to flexible construction, firms adapt to volatile oil markets.

Amid a deepening global fuel crisis, many countries are imposing price caps and rolling out large support packages to cushion the impact of soaring energy costs.

Vietnam’s aviation sector is facing mounting pressure as jet fuel supply risks tightening, forcing domestic airlines to adjust operations and prioritize key routes.

Amid a global fuel crisis driven by impacts of the still-unpredictable conflict in the Middle East, diversifying supply sources to meet domestic demand is an urgent priority alongside longer-term measures, experts have said.

Retail fuel prices were increased across the board from 23:00 on March 19 following a joint decision by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance.

The State Bank of Vietnam has warned that rising geopolitical tensions in the Middle East are putting pressure on the country’s exchange rate and domestic monetary market.

Eighteen passenger transport companies operating fixed intra-provincial and interprovincial routes in Ho Chi Minh City have announced fare increases, while Vinasun Taxi has also adjusted its pricing.

Retail fuel prices in Vietnam were sharply cut from 22:00 on March 11 after authorities tapped the petrol price stabilisation fund to curb costs amid volatile global markets.

Amid recent fuel price fluctuations, several transport operators in Ho Chi Minh City have adjusted fares at varying levels, while many major companies have opted to keep ticket prices unchanged.

As gasoline prices fluctuate, more residents in Hanoi are turning to metro trains and buses to reduce daily commuting costs.

Small eateries across Hanoi have raised prices of pho and bun by VND3,000-VND5,000 as ingredient and operating costs continue to increase.

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

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.