Trade ministry asks fuel firms to ensure stable supply

The Ministry of Industry and Trade  has issued a directive requiring relevant ministries, local authorities and energy firms to implement coordinated measures to ensure stable fuel supply and safeguard national energy security amid escalating military tensions in the Middle East.

The ministry's Directive 06, issued on March 9, aims to help the country proactively respond to volatility in global energy markets, ensure adequate gasoline supply for businesses and consumers, and support efforts to control inflation and maintain macroeconomic stability.

Local authorities were asked to work closely with petroleum companies to develop contingency plans to ensure fuel supply under all circumstances. They were also instructed to facilitate fuel sourcing, transport and distribution while strengthening inspections to prevent hoarding, speculation, fuel smuggling and other violations in the petroleum market.

The ministry emphasised that retail fuel stations must not suspend sales without legitimate reasons to avoid localised shortages.

Provincial departments of industry and trade were tasked with closely monitoring local fuel supply and demand, supervising fuel traders and ensuring compliance with regulations on product quality, retail pricing and operating hours.

Major state-owned energy groups were also directed to take proactive steps to maintain supply. Vietnam National Industry – Energy Group was instructed to ensure stable operations at oil and gas production and processing facilities, particularly refineries, and increase output where technically feasible. Meanwhile, Vietnam Electricity was asked to ensure stable power supply and coordinate with fuel providers to secure sufficient coal, gas and other fuels for power generation.

A key requirement from the directive is that major petroleum traders strictly implement their fuel supply plans assigned for 2026. These firms are required to proactively forecast market developments, develop response plans for potential supply disruptions and diversify import sources. They must also fully comply with fuel reserve requirements to ensure sufficient supply for the domestic market under all circumstances. In addition, companies must guarantee adequate fuel supply for retail networks and maintain uninterrupted sales operations.