The Ministry of Industry and Trade summarizes its work on managing and supplying petroleum products in 2025 and outlines tasks for 2026.

The conference was chaired by the Department of Domestic Market Management and Development. Attendees included Mr. Tran Huu Linh - Director of the Department of Domestic Market Management and Development; Mr. Nguyen Anh Son - Director of the Import-Export Department; Mr. Pham Thanh Trung - Deputy Director of the Legal Department - Ministry of Industry and Trade; representatives from the Ministry of Science and Technology, the State Bank of Vietnam, various departments and divisions of the Ministry, and the Departments of Industry and Trade of provinces and centrally-administered cities.

Conference summarizing the management and supply of petroleum products in 2025 and implementing the plan for 2026.

In his opening remarks at the conference, Mr. Tran Huu Linh emphasized that 2026 will be a special year for the petroleum industry. With the draft decree on petroleum business about to be issued, as well as the conversion of petroleum products, 2026 will be a turning point, a year of fundamental changes, a revolutionary year for petroleum products.

Furthermore, this year's double-digit growth target means that the energy sector in general, and the petroleum sector in particular, are required to achieve equivalent growth. Therefore, the Minister requested a meeting held at the beginning of the year to meet with distributors and key players to discuss, contribute ideas, and agree on future policies.

Mr. Tran Huu Linh chaired the conference.

Fuel supply in 2025 is expected to yield positive results.

Regarding the petroleum market situation in 2025, Mr. Tran Huu Linh stated that, despite being strongly impacted by geopolitical fluctuations, energy prices, and uncertainties in the global economy, under the decisive direction of the Government and the Prime Minister, along with the close coordination of ministries, sectors, localities, and the business community, the management and supply of petroleum products domestically have been basically ensured, meeting the needs of production, business, and consumption, with stable prices, contributing to maintaining macroeconomic stability.

Mr. Tran Huu Linh provided information on the petroleum supply situation in 2025.

Specifically, the total supply of petroleum products for domestic market consumption in 2025 is estimated at approximately 28.6 million m³/tons, an increase of 2.14% compared to 2024; consumption volume is estimated at approximately 26.4 million m³/tons, averaging 2.2 million m³/tons per month. Inventory levels will be maintained at approximately 1.7 million m³/tons, ensuring compliance with regulations on circulating reserves.

The management of gasoline and diesel prices continues to be strictly implemented, closely following developments in the world market. In 2025, gasoline and diesel prices will be adjusted 54 times, with alternating increases and decreases. By the adjustment period on December 31, 2025, the prices of all gasoline and diesel products will have decreased from 6% to over 17% compared to the beginning of the year; specifically, E5RON92 gasoline will decrease by 8.07%, RON95-III gasoline by 8.82%, diesel by 8%, and fuel oil by the deepest amount of 17.11%, thereby contributing to reducing cost pressure for people and businesses.

Alongside price management, efforts to improve the petroleum distribution system have been intensified. In 2025, the Ministry of Industry and Trade revoked the certification of one primary distributor and eight secondary distributors, and revoked the certification of eight other distributors; and imposed administrative penalties on eight distributors who did not meet the business requirements.

By the end of 2025, the country will have 26 ground petroleum wholesalers, 5 aviation fuel wholesalers, and 252 distributors, contributing to a healthier market and ensuring national energy security.

“In 2025, the Ministry of Industry and Trade highly appreciates the efforts of ministries, sectors, localities, and the business community in maintaining a stable supply of petroleum products amidst many difficulties. In addition, they have made positive contributions to ensuring supply, managing petroleum prices in accordance with regulations, closely following world prices, creating consensus within the petroleum business system, and contributing to maintaining stable production and business,” Mr. Tran Huu Linh stated.

Despite the achievements, the petroleum market still faces some limitations, such as some traders not fully fulfilling their obligations as stipulated, failing to meet the minimum allocated supply plan; and inspection and handling of violations not being truly coordinated in some areas and at certain times...

In 2026, ensuring a sufficient supply of gasoline and diesel fuel must be guaranteed at all costs.

Given the unpredictable developments in the global oil market and the projected continued increase in domestic demand, the most important objective for 2026 is to ensure that there are no supply shortages or disruptions, even localized ones, under any circumstances. Simultaneously, price management must closely follow the global market, harmonizing the interests of the State, businesses, and consumers.

A large number of representatives from ministries, businesses, and local Departments of Industry and Trade attended the conference.

In implementing its tasks for 2026, the Ministry of Industry and Trade has allocated a minimum total supply of petroleum products of nearly 31.8 million m³/tons, averaging 2.65 million m³/tons per month, to meet the target of GDP growth of 10% or more as stipulated in the National Assembly's Resolution.

To achieve this result, the Ministry of Industry and Trade aims to closely monitor the implementation of the total supply by key petroleum traders; at the same time, it will accelerate the improvement of institutions, implement the new Decree on petroleum business, the roadmap for the use of biofuels from June 1, 2026, strengthen digital transformation, and upgrade the National Petroleum Management System.

“For businesses, the two oil refineries (Nghi Son and Binh Son) must ensure a sufficient supply of gasoline to the market. Wholesale traders, distributors, agents, and retail outlets need to operate in a way that ensures the supply of gasoline to the domestic market. Especially, from June 1st, 2026, E10 gasoline will be blended and supplied to the market, so it is crucial to ensure a sufficient supply,” Mr. Tran Huu Linh emphasized.

The conference also recorded many opinions and exchanges from units under the Ministry, key enterprises, distribution traders, and representatives of the Departments of Industry and Trade of localities, focusing on contents such as: perfecting mechanisms and policies; ensuring stable supply; developing the distribution system; and digital transformation in the management and supervision of petroleum business activities.

Representatives from ministries, localities, and businesses delivered speeches at the conference.

The Government should be promptly requested to issue a new decree on petroleum business.

Concluding the conference, Ms. Nguyen Thuy Hien, Deputy Director of the Department of Domestic Market Management and Development, stated that the Ministry of Industry and Trade has identified a series of key tasks for 2026. The most important task is to finalize and submit to the Government for promulgation a new Decree on petroleum business.

Ms. Nguyen Thuy Hien delivered the concluding remarks at the conference.

"This is the content that businesses involved in the production and distribution of petroleum products have been waiting for the most. The Ministry of Industry and Trade will make every effort and coordinate closely with the Government Office to submit and issue the decree as soon as possible," said Ms. Nguyen Thuy Hien.

In addition, the Ministry of Industry and Trade will continue to strictly implement the directives of the Government and the Prime Minister on the management and operation of petroleum products; requiring traders to closely adhere to the supply plan, register their implementation plans quarterly, and closely monitor the supply situation in each locality.

Another important aspect is strengthening the management of the production, blending, and distribution of biofuels. The Ministry of Industry and Trade will coordinate with the Ministry of Finance to review and propose appropriate tax and fee policies, and will also coordinate with the Ministry of Science and Technology to issue new technical standards for biofuels.

In particular, according to Ms. Nguyen Thuy Hien, the biggest change in the new Decree on petroleum business is the pricing mechanism. Accordingly, wholesale traders, distributors, and in some cases, retailers will be able to determine the selling price.

"Empowering retailers to determine prices will change almost the entire current gasoline and oil business system. Retailers will have to choose between joining the distribution system to apply the prices of the main distributors, or becoming independent retailers and determining prices themselves," analyzed Ms. Nguyen Thuy Hien.

According to her, this change will lead to a significant restructuring of the distribution system, requiring regulatory agencies, especially the Departments of Industry and Trade in localities, to closely monitor the situation to ensure that the market operates transparently and without negative consequences.

At the conference, the Ministry of Industry and Trade called on petroleum producers and traders to continue cooperating with the Ministry, strictly comply with legal regulations, ensure sufficient petroleum supply in all situations, and contribute to maintaining market stability and serving socio-economic development in 2026.

Source: https://moit.gov.vn/tin-tuc/hoat-dong/bo-cong-thuong-tong-ket-cong-tac-dieu-hanh-cung-ung-xang-dau-nam-2025-trien-khai-nhiem-vu-nam-2026.html