The amount of imported petroleum increased by more than 40% in the first half of March

According to preliminary statistics of the Customs Department (Ministry of Finance), from the beginning of the year to the end of March 15, Vietnam imported nearly 2.71 million tons of petroleum of all kinds, with a turnover of more than 1.94 billion USD. Compared to the same period in 2025, imported petroleum will increase by 42-43% in volume and value.

In the import structure, diesel accounts for the largest proportion with 1.04 billion USD, equivalent to nearly 53.5% of the total turnover of the fuel group. Other products include gasoline (505 million USD), jet fuel (356 million USD) and fuel (42 million USD).

In the first 15 days of March alone, the volume of imported petroleum increased by 41.4%, causing the value of turnover to increase by 89.2% over the same period.

In addition, as of March 15, domestic enterprises also spent 1.44 billion USD importing nearly 2.8 million tons of crude oil to produce finished petroleum products. However, the amount of crude oil imported decreased by 7% compared to the same period last year.

Petroleum imports increased sharply due to the escalating Middle East conflict, causing fluctuations in the energy market. Currently, each liter of RON 95-III gasoline is 25,570 VND, and 27,020 VND for diesel. This level is 27% and 40% higher, respectively, than at the end of February – the time before the Middle East conflict.

In recent days, Prime Minister Pham Minh Chinh has called and sent official letters to leaders of many countries, and at the same time worked with ambassadors of countries in Vietnam, asking them to support oil sources and ensure energy security. For example, Vietnam has mobilized 4 million barrels of oil from partners, or requested access to Japan’s oil reserves… The Ministry of Industry, Trade and Finance also spent the Fund to stabilize gasoline prices at a high level, 4,000-5,000 VND per liter for gasoline and oil, and reduced the MFN preferential tax to 0% to support fuel prices.

At a working session with the Energy Security Working Group on March 17, the Prime Minister assessed the supply of petroleum and energy to ensure production and consumption and minimize negative impacts on people and businesses.

Last year, Vietnam imported about 9.9 million tons of finished petroleum products, with a turnover of more than 6.8 billion USD. Diesel accounts for the highest proportion, followed by gasoline and jet fuel, with main imports from Korea, Singapore, China, and Malaysia.

In addition, more than 14.1 million tons of crude oil were also imported as raw materials for domestic oil refineries. This amount is worth more than 7.7 billion USD, of which 80% is imported from Kuwait.