(DDM) — Petrol prices in Vietnam jumped sharply by more than 20% overnight, following a government announcement and amid growing concerns over supply disruptions caused by ongoing Middle East tensions.
The Ministry of Industry and Trade cited potential risks to global oil shipments as a key factor driving the sudden surge. Analysts warn that prolonged conflict in the Middle East could further exacerbate fuel scarcity, impacting domestic transportation and consumer goods prices.
Vietnamese drivers reported a spike in petrol station queues as motorists rushed to fill tanks before further increases. Local fuel distributors also confirmed a scramble to secure stock from international suppliers.
Economic experts said the surge could have ripple effects across Southeast Asia, as Vietnam is a major importer of refined petroleum products and relies heavily on stable international supply chains.
The Ministry assured the public that measures are being considered to stabilize the market, including potential government interventions, stockpiling, and exploring alternative import routes.
Energy policy analysts warned that if the Middle East conflict persists, Vietnam could face continued volatility in fuel prices, which may translate into higher transport costs and inflationary pressures for households and businesses.
Some consumer advocacy groups have called on the government to provide subsidies or implement price controls to shield citizens from the abrupt increase.
Meanwhile, the ongoing war in the Middle East has triggered global concern, as oil and gas markets worldwide adjust to uncertainties around supply security, particularly from key exporters in the region.
Observers say the situation underscores Vietnam’s vulnerability to international energy market shocks and the need for diversified fuel sources and strategic reserves.
If the trend continues, motorists and logistics companies are likely to face prolonged costs, potentially slowing economic activities that rely on stable fuel prices.
The government has urged calm, advising consumers to avoid panic buying and stressing that fuel supply channels remain operational, though international tensions are expected to influence prices in the near term.
