Vietnam’s Ministry of Industry and Trade has instructed local authorities to inspect fuel supplies after some petrol retailers reported difficulty obtaining fuel, particularly diesel, although no nationwide shortage has been recorded.
Nguyen Thuy Hien, deputy head of the ministry’s Domestic Markets Management, told Tien Phong newspaper that the situation was not a widespread fuel shortage, but some localities were facing temporary supply disruptions.
The ministry has ordered immediate inspections in areas reporting shortages to determine the causes of the disruptions, the Vietnam News Agency (VNA) reported.
Authorities in affected localities were ordered to review their entire fuel supply chain, including contracts between retailers and wholesalers, actual delivery volumes, shipping schedules, and the reasons for supply failures.
No nationwide fuel shortage
Hien attributed the localized shortages mainly to wholesalers purchasing fuel at high prices while retail prices have not been adjusted quickly enough, causing larger losses as sales volumes increased.
“This is not a case of running out of fuel, but the volume of fuel being sold is lower than normal,” Hien said, as quoted by VNA.
She said fuel stocks remain available throughout the distribution network, particularly in the southern region.
The ministry has asked major wholesalers to increase fuel shipments from southern provinces to northern and central provinces.
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Geopolitical disruptions cause localized shortages
Petrolimex, Vietnam’s largest fuel distributor with nearly half of the domestic market, said that diesel demand across its network had remained high for seven consecutive months.
The company reported that average daily diesel sales in July were 41.9% higher than a year earlier, and this rise is seen especially in the northern region, with significant increases in recent weeks..
Retail sales also rose 36.8% year-on-year and 9.4% month-on-month.
Petrolimex said geopolitical disruptions had contributed to supply pressures by affecting shipments through the Strait of Hormuz and making it more difficult for some traders to secure fuel supplies.
The company noted that some petrol stations may temporarily limit sales to ensure continuous supply for different customer groups.
Petrolimex is increasing fuel procurement, adjusting distribution plans, and transferring supplies between regions while closely monitoring demand, inventories, and incoming shipments to support areas experiencing higher demand, VNA reported.
Do Manh Binh, deputy general director of PetroVietnam Oil Corporation (PVOIL), which holds about 24% of the domestic market, said localized shortages can occur even when national fuel supplies are sufficient if transportation routes are disrupted, ports suspend operations, or supplies fail to reach specific areas on time.
He said PVOIL is coordinating with other Petrovietnam companies, including Binh Son Refining and Petrochemical Joint Stock Company, PetroVietnam Gas Joint Stock Corporation, and PetroVietnam Transportation Corporation, to balance domestic and imported fuel supplies, and coordinate storage and logistics operations.
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