The Vietnamese Ministry of Industry and Trade has warned of potential localised fuel shortages and has urged residents and businesses to reduce fuel consumption, including limiting private vehicle use and increasing remote work, amid tensions in the Middle East that could affect global energy supplies.

The escalating military conflict involving the United States, Israel, and Iran erupted on February 28th.

Iran has reportedly blocked the Strait of Hormuz, through which approximately 13 million barrels of oil per day, or 31% of global seaborne crude, are transported. Global oil prices have already risen by about 20% since the beginning of the year.

Analysts have warned that Brent crude could rise to between US$ 120 and US$ 140 per barrel if disruptions continue, with Asia and Southeast Asia expected to be affected significantly due to their reliance on Middle Eastern imports.

According to the ministry, Vietnam consumed about 28.6 million cubic metres of fuel in 2025, averaging between 2.2 million and 2.3 million cubic metres per month.

While the Nghi Son and Binh Son refineries meet a share of domestic demand, the country still depends on imports, increasing the risk of localised shortages in some areas.

In response, the Vietnamese government has formed a task force to address national energy supply risks and has directed refineries and distributors to maintain output, diversify supply sources, and maintain reserves.

Authorities are also implementing tax adjustments and using the national fuel price stabilisation fund to reduce domestic price pressure. The ministry stated that fuel prices have also risen across the region, including in Laos, Thailand, China, and Singapore.

Several countries in Asia have begun restricting fuel exports to protect domestic supply. The ministry cautioned against panic buying or hoarding, stating that such behaviour could worsen shortages and violate the law.

Residents have been advised to limit private vehicle use, carpool, rely on public transport or bicycles for short trips, and maintain vehicles properly in order to reduce fuel consumption by 10-15%. Drivers have also been encouraged to adopt fuel-efficient practices such as maintaining steady speeds and avoiding sudden acceleration.

Consumers have also been urged to consider electric, hybrid, or biofuel-powered vehicles, with E5 and E10 fuel blends being promoted from June 1st. Businesses have been advised to optimise logistics operations, adopt ISO 50001 energy management standards, and invest in renewable energy for auxiliary operations.

Remote work has also been recommended where possible to reduce commuting. The ministry stated, "Residents, businesses, and the media must unite, no panic, no hoarding, use fuel efficiently, for the nation's benefit and a sustainable energy future."

The ministry also urged residents to report fuel stations that stop selling without explanation, violate listed prices, or show signs of hoarding to market surveillance agencies or through the ministry's hotline, 1900 888 655, for investigation.