In July, Vietnam imported 2.11 million tons of oil and fuel for $1.95 billion. This is a 1.4% increase in volume and a 48.9% increase in value from last year.

From January to July, Vietnam imported 13.65 million tons of oil and fuel worth $12.31 billion. The volume decreased by 3.5%, but the value increased by 41.82%.

Global oil prices have risen due to conflicts in the Middle East.

Vietnam imported 7.14 million tons of crude oil worth $5.37 billion in seven months. This is a 12% decrease in volume but an 18% increase in value.

The country also imported 6.51 million tons of petroleum products worth $6.94 billion. The volume rose by 7.6% and the value by 67.6%.

The conflict in the Middle East has affected oil supplies, according to Tran Huu Linh, Director General of the Agency for Domestic Market Surveillance and Development.

The Ministry of Industry and Trade is monitoring the situation to ensure there are no shortages.

The agency head asked provinces to supervise the market, monitor supply and demand, and check prices at fuel stations, especially for diesel.

Authorities must stop practices like stockpiling and restricting sales. Fuel traders should secure supplies and maintain operations.

Domestic fuel prices are adjusted based on global market movements. On August 6, the Ministry of Industry and Trade cut retail fuel prices.

E10 gasoline fell by $0.02 per liter to $0.85, E5 gasoline by $0.03 per liter to $0.83, and diesel by less than $0.01 per liter to $1.05.

Vietnam's retail fuel prices are among the lowest in the region, according to the Ministry of Industry and Trade.

Gasoline in Vietnam costs $0.85 per liter, compared to $1.09 in Thailand, $1.10 in Cambodia, $1.23 in China, and $1.71 in Laos.

Diesel in Vietnam costs $1.05 per liter, compared to $1.09 in Thailand, $1.12 in China, $1.28 in Cambodia, and $1.43 in Laos.

The Ministry of Industry and Trade will continue to monitor the market and adjust prices accordingly. They will also propose measures to stabilize the market.

The ministry will ensure adequate fuel supplies for production, business, and consumption.