Forecast that imports of petroleum products will continue to be difficult
According to the latest information on gasoline and oil supply announced by the Energy Security Working Group on March 8, 2026 on energy security assurance, 2 oil refineries (Dung Quat, Nghi Son) produce to meet about 70% of the domestic gasoline and oil consumption demand.
In which, Dung Quat Oil Refinery basically has no direct impact on crude oil sources and has enough crude oil raw materials to produce until the end of April 2026; Nghi Son Refinery and Petrochemical Plant, a crude oil source with risks due to dependence on oil sources from Kuwait, but currently, inventory and shipments that have been transported can maintain production in the coming time. The factory is also actively looking for a plan to supplement sources.
Regarding import supply, Vietnam imports about 30% for domestic consumption demand. In March 2026, key petroleum traders reported that import supply was basically guaranteed. Imports of petroleum products in April are forecast to continue to be difficult due to rising prices and some countries not encouraging petroleum exports to ensure energy security.
There is a phenomenon of people bringing cans and barrels to buy gasoline for storage.
In parallel with timely gasoline and oil price management, closely following world prices, the Task Force for Ensuring Energy Security said that market inspection and control is also being strongly implemented. The gasoline and oil situation according to quick reports from the Departments of Industry and Trade of provinces/cities after the time of gasoline and oil price management at 3:00 PM on March 7, 2026 is as follows:
Hanoi City: Key enterprises in the area (Petrolimex, PVOIL, Military Petroleum Corporation) reported that the current supply and forecast for the coming days are stable; daily sales volume from March 4, 2026 to March 8, 2026 increased by 50% compared to the average of January 2026.
Regarding the current situation at gasoline and oil retail stores: On March 7, 17 stores stopped trading in some items, but in the afternoon of March 7, 2026, all items were sold due to additional supply. In Hanoi, there is a phenomenon of people bringing cans and barrels to buy gasoline at gasoline and oil retail stores for storage, and there is a situation of selling gasoline and oil in bottles and jars in the area near gasoline and oil retail stores. The Hanoi Market Management Department is currently coordinating with the People's Committees of communes and wards to inspect and handle.
Ho Chi Minh City: The gasoline and oil business situation in Ho Chi Minh City is relatively stable, gasoline and oil stores are still open and operating normally to serve the production and consumption needs of people and businesses, and no speculation, hoarding, or unreasonable price increases have been detected.
Hai Phong City: In Hai Phong city, there are currently 10 gasoline and oil depots with a total capacity of nearly 467,700 m3, nearly 498 gasoline and oil retail stores with 2 wholesale traders, 5 authorized traders as wholesale traders, 16 distribution traders, nearly 250 retail traders, currently still meeting and maintaining gasoline and oil supply for the city.
4-legged trucks line up to fill up oil for storage
In addition, according to the Task Force for Ensuring Energy Security in some provinces such as Bac Ninh, Thai Nguyen, Phu Tho, Lao Cai, Tuyen Quang, Gia Lai, there is a phenomenon of stockpiling diesel oil in the form of 4-legged trucks queuing to pour oil at Petrolimex plants and turning around to pour at other stores. Local functional forces have been very active to ensure that the supply is not interrupted.
Thus, in recent days, due to the fear of high gasoline prices and supply disruption, people have flocked to buy goods, hoarding gasoline and oil in many forms such as buying with cans and drums, carrying 4-legged trucks to line up to fill up at Petrolimex stations and turning around to fill up at other stores, contributing to a sudden increase in gasoline and oil demand in a short time. This phenomenon occurs more often in the northern provinces, especially Hanoi, and less in the southern and central provinces.
According to information recorded from the Departments of Industry and Trade, from March 8, 2026, after the inter-Ministry of Industry and Trade - Finance adjusted gasoline and oil selling prices, the situation of stockpiling has decreased. However, on March 8, 2026, in some provinces such as Tay Ninh, Gia Lai, Nghe An, in border communes, people appeared to come to Vietnam to buy gasoline and oil because Vietnamese prices are cheaper.
