The statement came after a petrol station in Hanoi temporarily ran out of fuel and requested support from the local Department of Industry and Trade to help connect with suppliers.
On the evening of March 5, the Indel Ha Dong petrol station at 164 Quang Trung Street posted a notice saying it had run out of petrol. Dang Van Dung, business director of Indel Investment and Development JSC, said the company contacted 10 suppliers, including PV Oil, but could not secure new deliveries.
The situation occurred as escalating tensions in the Middle East disrupted global energy supply chains and complicated shipping through the Strait of Hormuz. Although retail fuel prices increased on March 5, discounts at several fuel depots remained at zero, making it difficult for some retailers to maintain supply.
Domestic production remains stable
The Domestic Market Management and Development Agency said national supply remains broadly stable.
According to Petrovietnam, crude oil production currently stands at about 180,000 barrels per day, with around 150,000 barrels supplied daily to the Dung Quat Oil Refinery.
Dung Quat is operating steadily at roughly 118 per cent capacity and is expected to maintain this level at least through April, ensuring deliveries under contracts with fuel wholesalers.
Meanwhile, the Nghi Son Refinery and Petrochemical Complex continues operating normally with adequate feedstock supplies.
Authorities said the two major domestic refineries, Dung Quat and Nghi Son, are maintaining stable operations and will meet supply commitments to fuel distributors through the end of March. Combined with imported fuel and mandatory commercial reserves, the domestic market is expected to have sufficient supply for the month.
A petrol station in Hanoi City displays an 'out of petrol' sign on the evening of March 5 (Photo: Thanh Thuong).
Risks remain if Middle East tensions persist
However, officials warned that if the conflict in the Middle East extends into April, the market could face greater challenges.
The government and the Ministry of Industry and Trade are working with relevant agencies to remove obstacles to fuel production and imports in order to maintain adequate supply in the coming months.
Authorities also advised residents to conserve energy, prioritise public transport, electric vehicles and biofuels, and avoid panic buying or stockpiling fuel.
Fuel businesses were reminded that maintaining stable supply is a key responsibility. The agency warned companies against hoarding or limiting sales while waiting for price increases, stressing that keeping supply flowing during market volatility demonstrates corporate responsibility and support for the national economy.
