It said in a statement Monday that fuel shortages could occur in some areas as military conflict in the Middle East escalates, adding that citizens and businesses are advised to use fuel efficiently.
Domestic petroleum consumption in 2025 is estimated at about 28.6 million cubic meters. Although Vietnam operates two oil refineries, Nghi Son and Binh Son, the country still depends heavily on imported fuel to meet demand.
People queue to buy gasoline in Hanoi on March 9, 2026. Photo by VnExpress/Thanh Hai |
Companies are also advised to optimize logistics to reduce travel distances and empty trips and develop renewable energy sources.
The regulator also urged the public to limit the use of private vehicles, prioritize carpooling or use public transport.
People should turn off engines during long stops, avoid sudden acceleration or braking, and maintain vehicles regularly. Consumers should also consider using biofuels such as E5 and E10.
Some countries, including China, Japan and Thailand, have restricted fuel exports. Many countries in the region have introduced domestic fuel-saving measures and called on citizens to use alternative modes of transport amid tightening fuel supply in the region, according to the ministry.
The Ministry of Industry and Trade also asked the public and businesses not to panic or stockpile fuel.
People are advised to report petrol stations showing signs of violations such as suspending sales without reason and selling above the listed price.
A report by the Government’s Energy Security Task Force on Sunday said many people rushed to buy and stockpile fuel due to fears of rising prices and supply disruptions.
The phenomenon has occurred in northern localities, especially Hanoi, and in some southern provinces, while it has been less common in central regions.
This sentiment has caused fuel demand among the public to surge sharply over a short period. Global oil prices have risen around 60% since the start of the year to over $100 per barrel, with some analysts expecting a rate of $140 if supply disruptions persist.
The Vietnamese government has mobilized about 4 million barrels of oil from partners.
At the same time, Prime Minister Pham Minh Chinh held a phone call with Kuwait’s Prime Minister Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, requesting coordination with relevant partners to consider continuing crude oil supplies to Vietnam.
Comments are closed.