The directive is part of an official dispatch signed by the Prime Minister on March 11, introducing measures to secure fuel supply for business production and people's daily use.

According to the document, global energy markets are expected to remain volatile in the coming period, with potential risks of supply chain disruptions that could affect both fuel availability and global oil prices. These developments may have a direct impact on Vietnam’s domestic market.

To maintain macroeconomic stability, control inflation and meet consumer demand, the Prime Minister assigned the Ministry of Industry and Trade to oversee fuel market management and ensure adequate supply.

The ministry was tasked with closely monitoring market developments, assessing supply–demand balances, inventory levels and the performance of the distribution system, and taking timely regulatory measures when necessary. Key fuel wholesalers are also required to prepare supply plans, maintain regular sales and comply with listed prices.

The Prime Minister also instructed ministries, agencies and localities to promote fuel-saving measures and encourage greater use of public transportation, electric vehicles and biofuels.

Transitioning to cleaner energy sources and transport options will not only help reduce dependence on fossil fuels but also support Vietnam’s broader green transition and sustainable development goals, says the dispatch.

The document also assigns the Ministry of Finance to coordinate with the Ministry of Industry and Trade in regulating fuel prices, ensuring transparency and balancing the interests of the state, businesses and consumers.

Authorities were also instructed to accelerate the expansion of national fuel reserves and improve mechanisms for the release and allocation of these reserves to respond effectively to emergency situations.

Meanwhile, the State Bank of Vietnam was asked to direct credit institutions to facilitate access to foreign currency and financing for fuel trading companies to support fuel imports and reserves.

The Prime Minister further urged ministries and local authorities to strengthen inspections of fuel trading activities and strictly handle violations such as speculation, hoarding, smuggling or breaches of pricing regulations.

Local administrations were also instructed to ensure the stable operation of fuel distribution networks and prevent retail stations from suspending sales without valid reasons, which could disrupt market supply.

In addition, major energy companies including Petrovietnam, Petrolimex, Binh Son Refining and Petrochemical JSC, and Nghi Son Refinery and Petrochemical LLC were asked to optimise production operations, proactively develop supply plans and strengthen fuel reserves.

These enterprises were also encouraged to diversify feedstock sources and increase domestic crude oil production in order to mitigate the impact of fluctuations in global oil prices.

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