Vietnam Considers Fuel Tariff Removal
Analysis based on 7 articles · First reported Mar 09, 2026 · Last updated Mar 09, 2026
The potential removal of fuel import tariffs by Vietnam aims to stabilize its domestic market and mitigate the impact of soaring crude oil prices, which have reached nearly US$120 a barrel due to the Middle East conflict involving Iran, the United States, and Israel. This action could ease inflationary pressures on consumers and businesses in Vietnam, but the broader market remains sensitive to global oil supply disruptions, particularly concerning the Strait of Hormuz.
Vietnam is considering a plan to temporarily remove tariffs on fuel imports until the end of April. This move, proposed by the Vietnam — Ministry of Finance (Vietnam), aims to stabilize the domestic market and ensure national energy security. The decision comes as the US-Israeli war with Iran has disrupted global oil supplies, pushing crude oil prices to nearly US$120 a barrel, the highest since early 2022. Fuel prices in Vietnam have risen sharply, with gasoline up 21% and diesel over 50%. The government has already implemented emergency pricing protocols. Concerns remain about a potential blockade of the Strait of Hormuz, which could further escalate prices and scarcity. While Vietnam has avoided mass shortages, some smaller petrol stations have temporarily closed or shortened operating hours due to dwindling supplies.
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