Petrol prices surge sharply in Vietnam after overnight hike
Vietnam has experienced a sudden spike in petrol prices, with costs rising by over 20 percent. The government announced the increase amid concerns about oil and gas shortages linked to conflict in the Middle East. Diesel prices have also jumped, and the hikes are affecting daily life, including transportation and manufacturing. Officials say the country can meet domestic fuel needs for now, but residents are feeling the pressure.
What we know
- The Vietnamese government raised the price of 95-octane gasoline by 20 percent and diesel by nearly 34 percent overnight.
- The increases follow strikes against energy infrastructure in Iran and the Gulf states, impacting Southeast Asia.
- The trade ministry attributed the hikes to the Middle East conflict, Iran’s control of the Strait of Hormuz, and the Russia-Ukraine war.
- The aviation authority warned of possible reductions in domestic flights due to fuel shortages.
- State media reported that Vietnam can ensure enough oil and gas for domestic use until the end of April.
