Vietnam fuel price searches near 7 million in early March, EV queries climb

Between March 1 and March 12, searches related to gasoline and oil reached nearly seven million, reflecting strong public interest as fuel prices fluctuated, the research unit said.

Searches for the Vietnamese term "xang" (gasoline) rose 164 percent on March 5 after a fuel price adjustment, while searches for "dau" (oil) increased about 40 percent from the previous day. 

Interest climbed further after another price adjustment on March 7, with gasoline searches up 95 percent and oil searches up 47 percent.

By March 9, searches for both terms had risen again, with gasoline-related queries increasing 81 percent and oil-related searches up 71 percent compared with the previous day, marking the highest level during the period, the data showed.

At the same time, searches for "xe dien" (electric vehicles) also increased, reaching more than 512,000 queries between March 1 and March 12. 

Interest rose notably from March 7 and peaked between March 9 and March 11, when searches were about three times higher than at the start of the month.

Vietnam's Ministry of Industry and Trade adjusted domestic fuel prices five times between March 5 and March 12, including four increases and one cut, with the commonly used RON95 gasoline rising to VND25,575 (US$0.97) per liter from VND20,151 ($0.77), according to government pricing announcements.

Late on Saturday, the ministry and the Ministry of Finance kept retail fuel prices unchanged from the March 12 adjustment.

Global energy prices have surged since military tensions involving the United States, Israel, and Iran escalated in the Middle East on February 28, raising concerns about potential disruption to shipments through the Strait of Hormuz, a key route for about one-fifth of global oil consumption.