Vietnam’s crude oil and fuel imports reach 13.65 million tonnes in seven months
Vietnam imported 13.65 million tonnes of crude oil and refined petroleum products worth $12.31 billion in the first seven months of 2026. Import volume fell 3.5% year on year, but expenditure rose 41.82% as Middle East conflict drove up global prices.
Import bill rises despite lower overall volume
Vietnam imported 13.65 million tonnes of crude oil and refined petroleum products worth $12.31 billion during the first seven months of 2026, according to Customs Department data reported by VietNamNet. The combined volume declined 3.5% from the same period of 2025, while the value increased 41.82%, or $3.63 billion. The divergence reflects a sharp rise in international oil and fuel prices amid continuing geopolitical conflict in the Middle East.
In July alone, Vietnamese companies spent about $1.95 billion on 2.11 million tonnes of crude oil and petroleum products. Volume was 1.4% higher than in July 2025, but the import value rose by nearly 48.9%, equivalent to an increase of $640 million. The figures show that the cost pressure intensified even as the physical supply entering the country changed only modestly.
Crude purchases fall as refined fuel imports expand
The two parts of the import mix moved in different directions. Vietnam imported nearly 7.14 million tonnes of crude oil during the seven-month period, with an estimated value of about $5.37 billion. Crude volume fell 12% year on year, while its value rose 18%.
Imports of refined petroleum products exceeded 6.51 million tonnes and were worth nearly $6.94 billion. Their volume increased 7.6% from the same period of 2025, while expenditure jumped 67.6%. Refined products therefore accounted for the larger share of Vietnam’s combined crude and fuel import bill, despite representing slightly less physical volume than crude oil.
Authorities monitor supply and retail operations
Trần Hữu Linh, head of the Domestic Market Management and Development Department at the Ministry of Industry and Trade, said the unresolved Middle East conflict had affected procurement by Vietnam’s major petroleum distributors. He nevertheless said the ministry was closely monitoring conditions, supply remained balanced and there was no shortage.
The department asked provincial industry and trade authorities to strengthen market supervision and track supply, demand, inventories and actual prices at individual filling stations, with particular attention to diesel. Officials were also instructed to address stockpiling, restricted sales and unauthorized reductions in opening hours. Traders were urged to secure supplies and maintain operations, while filling stations were required to observe registered hours and posted prices.
Vietnamese retail prices remain below regional peers
A joint decision by the ministries of Industry and Trade and Finance reduced domestic retail prices on August 6. The ceiling for E10 gasoline fell by 535 dong per litre to 22,324 dong, while E5 declined by 660 dong to no more than 21,728 dong per litre. Diesel was cut by 80 dong to a maximum of 27,544 dong per litre, and fuel oil fell by 87 dong per kilogram to 16,391 dong.
Ministry data updated through August 6 placed Vietnam among the region’s lower-priced retail markets. Gasoline cost 22,324 dong per litre in Vietnam, compared with 28,750 dong in Thailand, 28,838 dong in Cambodia, 32,383 dong in China and 44,916 dong in Laos. Diesel was priced at 27,544 dong per litre in Vietnam, against 28,750 dong in Thailand, 29,366 dong in China, 33,698 dong in Cambodia and 37,548 dong in Laos. The ministry said it would continue monitoring domestic and global markets and propose measures to stabilize supply and prices when required.