In the first three months of the year, Vietnam imported 6.49 million tonnes of crude oil and petroleum products. Notably, finished fuel imports in March jumped to 1.19 million tonnes worth USD 1.42 billion.
According to the customs authority, fuel imports in March rose 47.16 per cent in volume and 157.7 per cent in value compared with the same period last year.
In addition, businesses spent USD 548.2 million to import 805,091 tonnes of crude oil in March, used as feedstock for Dung Quat refinery and Nghi Son refinery.
Cumulatively, in the first quarter, Vietnam imported nearly 6.49 million tonnes of crude oil and petroleum products worth about USD 4.59 billion, up 7.8 per cent in volume and 19.84 per cent in value year on year.
Crude oil imports reached 3.12 million tonnes valued at nearly USD 1.66 billion, down 15.44 per cent in volume and 23.85 per cent in value.
In contrast, imports of refined petroleum products surged to nearly 3.37 million tonnes worth USD 2.93 billion, increasing 44.6 per cent in volume and nearly 77.6 per cent in value compared with the same period in 2025.
At a recent government briefing, deputy industry and trade minister Nguyen Sinh Nhat Tan said domestic fuel supply remains stable, with output rising 30 per cent, ensuring sufficient feedstock for Dung Quat refinery and Nghi Son refinery through the end of April.
In March alone, key fuel distributors imported about 3.2 million cubic metres of petroleum products. Combined with existing inventories, this is expected to secure domestic supply until the end of April.
The ministry is continuing to develop supply scenarios for the coming months, while implementing measures to boost domestic production, diversify supply sources and stabilise the market, Tan said.
Previously, the ministry described Vietnam as one of the few bright spots in Southeast Asia during what has been considered the worst energy crisis in decades.
The fuel price stabilisation fund was activated nine times within a single month, with total disbursements estimated at VND 5.3 trillion (about USD 210 million). For the first time, the state budget directly advanced VND 8 trillion (about USD 315 million) to the fund under a decision signed by Prime Minister Pham Minh Chinh on March 27.
At the same time, the government deployed multiple fiscal measures. Import tariffs on certain fuel products were reduced to 0 per cent from March 9 to April 30. Environmental protection tax on petrol (excluding ethanol), diesel and aviation fuel was cut to 0 per cent from March 26 to April 15. Special consumption tax on petrol was reduced from 8–10 per cent to 0 per cent, while value-added tax declarations were waived with input tax deductions maintained.
From March 6, authorities were allowed to adjust fuel prices immediately when base prices increased by more than 7 per cent, instead of waiting for the usual seven-day cycle. From March 19, under Resolution 55, adjustments could be made within a day if fluctuations exceeded 15 per cent, helping to avoid price shocks.
As a result, Vietnam’s petrol prices remain significantly lower than in many regional markets, although diesel prices are still higher than in some countries such as China and Thailand.
Petrol prices stand at VND 26,976 per litre in Vietnam, compared with VND 70,328 in Singapore, VND 35,468 in Thailand, VND 35,849 in Cambodia, VND 50,112 in Laos and VND 34,827 in China.
Diesel prices are VND 44,788 per litre in Vietnam, compared with VND 86,985 in Singapore, VND 38,525 in Thailand, VND 49,293 in Cambodia, VND 61,632 in Laos and VND 31,733 in China.
