Fuel prices in Vietnam have risen sharply since the outbreak of the Middle East conflict, with diesel costs more than doubling in less than a month, according to data released by the country’s trade ministry on Wednesday.
Official figures show that diesel prices have increased by approximately 105 per cent since 26 February, just days before the United States and Israel launched strikes on Iran.
The government raised the retail price of diesel to 39,660 Vietnamese dong (around $1.50) per litre on Wednesday, compared to 19,270 dong per litre recorded last month.
The surge reflects the broader impact of geopolitical tensions on global energy markets, as supply disruptions and uncertainty surrounding the conflict continue to push fuel prices higher worldwide. Vietnam, which relies heavily on imported fuel, has been particularly affected by these fluctuations.
Petrol prices have also seen a significant rise over the same period. The cost of 95-octane petrol climbed nearly 68 per cent, increasing from 20,150 dong per litre to 33,840 dong, according to the ministry’s data.
The rapid increase in fuel prices is expected to place additional pressure on transportation costs, production expenses, and overall inflation in the country.
Analysts warn that if global oil markets remain volatile due to ongoing tensions in the Middle East, domestic fuel prices in Vietnam could continue to face upward pressure in the coming weeks.
