Currently, Vietnam can secure about 68% of its fuel supply domestically through two major refineries: Nghi Son and Dung Quat. This means that even when petroleum products are refined domestically, the upstream raw materials remain closely tied to global oil supply chains. In addition, the cyclical pricing mechanism for petroleum products creates a certain time lag compared with global market movements. As a result, when global prices rise rapidly and then fall quickly, the domestic market often reacts a step later. However, recent fluctuations suggest that the management system may need to become even more flexible to adapt to an increasingly unpredictable global energy market.

Source: VietNamNet News March 12, 2026 09:06 UTC