Hanoi warns of strict action against fuel hoarding amid supply concerns

The municipal administration recently issued a directive to stabilize the fuel market after recent disruptions linked to escalating conflicts in the Middle East.

Military tensions involving the United States, Israel, and Iran in the Middle East since February 27 have disrupted global fuel supplies, as about 20 percent of the world's oil passes through the Strait of Hormuz between Iran and Oman.

The city’s administration said that some gas stations in Hanoi had closed or suspended operations due to insufficient supply from distributors.

The municipal Department of Industry and Trade was tasked with directing the Market Surveillance Agency to inspect fuel businesses and enforce compliance.

Retailers are prohibited from halting sales without legitimate reasons, and any violations will be subject to penalties.

Authorities also warned against practices such as withholding stock, reducing discounts unfairly, or failing to supply retail outlets adequately.

The Market Surveillance Agency must monitor the situation closely and report complex cases to the municipal administration and the Ministry of Industry and Trade.

The directive emphasized that fuel wholesalers and distributors must ensure continuous supply to their networks, preventing disruptions that could affect consumers.

The Department of Industry and Trade will also assist businesses with administrative procedures to facilitate fuel trading.

Recent reports showed that on Saturday last week, 17 stations in Hanoi temporarily closed or ran out of fuel for legitimate reasons, up three outlets compared to the previous day.

Most affected outlets belonged to distributors dependent on wholesalers, while stations directly under wholesalers maintained supply.

Currently, about 70 percent of Hanoi’s retail stations are operated by wholesalers, with the rest managed by distributors and suppliers from other provinces.

Major suppliers have pledged to maintain adequate fuel supply through the end of March.

The city urged the Ministry of Industry and Trade to strengthen oversight of fuel reserves and compliance, particularly among distributors with frequent closures.

Meanwhile, long queues of residents were seen at some stations, with signs posted announcing fuel shortages.