Vietnam secures fuel supply through April after 3.2 million cubic meters imported in March

The imported volumes, combined with existing inventories and domestic output, will ensure stable supply in the domestic market, Tan said at a government press briefing.

He said tensions in the Middle East have disrupted global supply and had a significant impact on fuel markets.

The escalating conflict involving Iran, the United States, and Israel since February 28 has effectively shut or severely disrupted the Strait of Hormuz, which normally carries about 20 percent of global oil supplies.

In response, the central government and the Ministry of Industry and Trade have implemented pricing and supply management plans covering March and extending through April.

The ministry has also worked with the Ministry of Finance to support the fuel price stabilization fund and advised the government to issue resolutions on fuel management.

Domestic supply has been bolstered by increased output, with the Dung Quat refinery raising production by about 30 percent and both Dung Quat and Nghi Son refineries securing sufficient feedstock through April.

In March, traders and key importers purchased about 3.2 million cubic meters of petroleum products, which together with existing inventories will ensure domestic supply through the end of April, Tan said.

Authorities are preparing further scenarios for the coming months, including measures to diversify supply, boost domestic production, and expand fuel reserves.

The government has also stepped up efforts to ensure energy security, including forming a task force and issuing multiple directives since the Middle East conflict erupted.