Amid ongoing volatility in global energy markets, the Vietnam's Ministry of Industry and Trade has instructed petroleum businesses to proactively secure fuel supplies and ensure uninterrupted distribution under all circumstances.

Proactively securing supply to ensure stable fuel availability

To safeguard petroleum supplies for production, business activities and consumer demand during the remaining months of 2026, the Domestic Market Management and Development Agency has issued an official directive requesting petroleum wholesalers and distributors to proactively develop supply plans and maintain stable fuel availability throughout their distribution networks.

According to the Domestic Market Management and Development Agency, the global petroleum market has recently continued to be influenced by a combination of factors. These include positive signals from negotiations between the US and Iran, the resumption of oil tanker traffic through the Strait of Hormuz, and developments in the Russia - Ukraine conflict. While these factors have caused fluctuations in refined petroleum product prices across different product categories, the overall market trend has been downward.

Against this backdrop, the agency has instructed petroleum wholesalers to fully implement the minimum petroleum supply quotas for 2026 assigned by the Ministry of Industry and Trade, ensuring compliance with both the required volumes and product mix, while adhering to the quarterly supply plans they have registered.

Businesses are also required to closely monitor market developments, formulate contingency plans, diversify supply sources through both domestic production and imports, and strictly comply with petroleum stockholding requirements in order to maintain stable supplies and remain fully prepared to meet market demand under all circumstances.

Strict ban on hoarding fuel in anticipation of price increases

Regarding the distribution system, the Domestic Market Management and Development Agency has instructed petroleum wholesalers and distributors to mobilize all necessary resources to ensure adequate fuel supplies nationwide, with particular attention to remote and mountainous provinces such as Dien Bien, Lao Cai and Tuyen Quang.

Notably, the directive explicitly prohibits businesses from hoarding petroleum in anticipation of price increases and requires them to prevent any disruption to fuel supplies throughout the entire distribution chain, including wholesalers, distributors and retail fuel stations. Under all circumstances, businesses must ensure sufficient fuel deliveries to retail outlets within their systems so that normal sales operations can continue without interruption.

In addition to maintaining adequate supply, petroleum traders have been urged to strengthen supply-sharing mechanisms and adopt balanced profit-sharing arrangements across the distribution network to help sustain stable fuel distribution. They are also required to allocate sufficient personnel and arrange duty shifts or overtime staffing to ensure uninterrupted retail operations.

To ensure compliance with these directives, the Domestic Market Management and Development Agency will coordinate with relevant authorities to strengthen inspections and supervision of petroleum wholesalers' and distributors' responsibilities in securing fuel supplies. Authorities will also closely monitor petroleum imports, purchases from domestic refineries, and compliance with mandatory commercial inventory requirements.

According to the agency, any violations of regulations governing the safeguarding of petroleum supplies will be dealt with strictly in accordance with Vietnamese law.