Vietnam’s Ministry of Industry and Trade has urged businesses to encourage employees to work from home to reduce fuel consumption amid severe supply disruptions and rising prices caused by the ongoing conflict involving Iran. The government cited the country’s heavy reliance on Middle Eastern energy imports as a key factor in its vulnerability to this crisis.
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Fuel prices in Vietnam have increased sharply since late February, with gasoline up 32%, diesel rising 56%, and kerosene surging 80%, according to data from Petrolimex, the nation’s leading fuel trader. Long queues have formed at petrol stations in Hanoi as consumers respond to shortages and price hikes.
Prime Minister Pham Minh Chinh has conducted talks with leaders of Kuwait, Qatar, and the United Arab Emirates to secure additional crude oil and fuel supplies. The government has also temporarily removed import tariffs on fuels through the end of April to help stabilize the market.
The spike in prices follows intensified U.S.-Israeli military actions against Iran, which have caused volatility in global oil markets. President Donald Trump has assured that the Strait of Hormuz—a critical passage for global oil shipments—will remain open for tankers, although Iran’s Revolutionary Guard has threatened to block exports until attacks cease.
Despite tensions, U.S. officials signal readiness to escort oil tankers through the Strait of Hormuz amid thinning traffic, while President Trump indicated potential openness to negotiations with Iran’s new leadership, though he expressed skepticism about lasting peace. The ongoing conflict’s impact on energy markets continues to challenge Vietnam’s fuel supply and economic stability.
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