On the basis of the long-standing friendship and cooperation between Viet Nam and China, as well as close ties between their aviation authorities, the Civil Aviation Authority of Viet Nam has asked the Civil Aviation Administration of China to direct relevant fuel suppliers to ensure sufficient and stable supplies for Viet Nam.

Military conflict in the Middle East triggered a seismic shift in the global energy market, at times pushing crude oil prices above 100 USD per barrel and diesel prices to 238 USD per barrel, prompting many countries to declare a state of emergency.

Importers brought in approximately 3.2 million cubic metres of fuel in March. Combined with current inventories of around 1.6–1.8 million cubic metres, this volume is expected to fully meet domestic demand until the end of April.

The Ministry of Industry and Trade (MoIT) and the Ministry of Finance have decided to further cut retail fuel prices, effective from midnight on March 26.

Prime Minister Pham Minh Chinh has directed authorities to govern petrol and oil prices in a way that ensures balanced interests among the State, businesses and consumers while maintaining stable fuel supply and preventing market disruptions.

Amid complex developments from geopolitical tensions in the Middle East that have disrupted fuel supply chains and driven up costs, petroleum enterprises have proactively implemented response measures to ensure production and business operations while meeting domestic consumption demand.