Developing plans and options to control the situation
Military conflict between the US and Iran is escalating seriously. Iran has blockaded the Strait of Hormuz - a strategic shipping route transporting about 13 million barrels of oil/day, equivalent to 31% of the total crude oil transported by sea globally.
World oil prices have increased by 20% since the beginning of the year and are at risk of a sharp increase to 120-140 USD/barrel if supply continues to be disrupted. The whole world, Asia, especially Southeast Asia including Vietnam, is forecast to be the most heavily affected due to large dependence on energy imports from the Middle East.
In Vietnam, the total domestic consumption of gasoline and oil in 2025 reached about 28.6 million m3/ton, averaging 2.2-2.3 million m3/ton/month. Although there are two Nghi Son and Binh Son oil refineries, our country is still significantly dependent on imports. The risk of local gasoline and oil shortages in some localities is entirely possible.
As soon as the war broke out, the Government and the Prime Minister issued very timely directives. Ministries, branches and localities were specifically assigned and coordinated with the Ministry of Industry and Trade to ensure national energy security. On March 4, 2026, the Prime Minister also signed Decision No. 385/QD-TTg establishing a Task Force to ensure energy security in the face of the complex developments of the military conflict in the Middle East, headed by Deputy Prime Minister Bui Thanh Son, to monitor, review and report daily.
In recent days, the Ministry of Industry and Trade has developed plans and options to control the situation. The Ministry has directed and urged oil refineries and the entire gasoline and oil supply chain nationwide, from key traders - distributors - retailers, to focus on removing difficulties, finding new sources of gasoline and oil, maintaining production and business activities to ensure continuous gasoline and oil supply to the market. The Ministry has also directed localities, Departments of Industry and Trade and market management forces to supervise, inspect, and strictly handle violations.
The Ministry of Industry and Trade and the Ministry of Finance are developing and submitting to the Prime Minister price stabilization plans, including the use of the gasoline and oil price stabilization fund. The Ministry is also actively coordinating with ministries and sectors, reporting to the Government to implement other measures such as proposing to reduce environmental protection tax and other effective measures to ensure the supply of gasoline and oil to the economy.
People and businesses, please share with the State
Understanding difficulties in management: The Ministry of Industry and Trade has quickly and continuously issued documents directing the gasoline and oil distribution system nationwide to ensure supply and maintain continuous sales activities at gas stations. In addition, amend and supplement mechanisms and policies to create favorable conditions for businesses to diversify sources of gasoline and oil imports to serve domestic production and consumption. People and businesses need to agree with the management policy, not panic, not buy and stockpile causing local supply and demand imbalances.
Do not speculate or hoard goods: Absolutely do not take advantage of the situation to speculate and illegally stockpile gasoline and oil. This act not only violates the law but also exacerbates the shortage situation, affecting the community.
Timely reflection: When detecting gas stations stopping sales for no reason, selling at listed prices incorrectly or showing signs of hoarding goods, people need to proactively reflect to the Ministry of Industry and Trade (Domestic Market Management and Development Department, hotline: 1900 888 655) and the Market Management Sub-Department in the locality for timely handling.
Save gasoline
For people, the Ministry of Industry and Trade recommends that they may limit the use of personal vehicles when unnecessary; prioritize carpooling, using public transport or bicycles for short distances. Periodically maintain vehicles, check tires at the right pressure, change engine oil on time, turn off engines when parked for a long time to help reduce 10-15% of gasoline consumption. Driving saves fuel, maintains stable speed, avoids sudden acceleration and deceleration, and limits unnecessary high speeding.
Converting vehicles, considering using electric vehicles, hybrid vehicles or vehicles using E5/E10 biofuels according to the roadmap from June 1, 2026.
For businesses, develop fuel consumption norms for each production and transportation process; apply an energy management system according to ISO 50001 standards. Optimize logistics, arrange reasonable transport routes, increase the load capacity of each shipment, and reduce the number of empty vehicles.
Invest in energy-saving technology, upgrade machinery and production equipment, and switch to renewable energy (solar and wind power) for auxiliary activities. Encourage remote work when possible to reduce travel and transportation needs.
According to the Ministry of Industry and Trade, gasoline and oil are strategic commodities, but the supply is limited. In the context of the US-Iran conflict causing instability in the global energy market, each saved liter of gasoline is a practical contribution to national energy security. People, businesses and press and media agencies should unite, share responsibility with the State: not panic, not stockpile, use economically and efficiently - for the common benefit of the country and for a sustainable energy future.
