The closure of gas stations in Hanoi on Tuesday raised concerns about a fuel supply crunch spreading in Vietnam.
Several stations in Hanoi has put out signs saying “Temporarily closed” or “Waiting for re-supplying.”
Moto taxi rider Nguyen Chi Bac said he had tried several fuel stations before finding one open.
The Minister of Industry and Trade Nguyen Hong Dien said on Friday the country was not facing fuel shortages, seeking to calm fears after some petrol stations in southern cities cut or limited sales.
The official Vietnam News Agency reported on Tuesday that some fuel stations in the country’s business hub of Ho Chi Minh City had closed, or stopped selling gasoline while maintaining diesel sales.
It was not clear how many gas stations overall had been affected across the country.
On a highway linking Hanoi and Haiphong, two petrol stations had limited gasoline sales to 400,000 dong ($16.11) per car on Monday.
The trade ministry did not immediately respond to a request for comment on Tuesday about the disruption.
Minister Dien on Friday blamed fluctuations in the foreign exchange rate and difficulties faced by some fuel importers accessing credit from banks for the situation. But he said domestic refineries, which supply 70 percent to 80 percent of fuel needs, were running at full capacity.
A Hanoi-based energy trader, who declined to be named because he was not authorized to speak to media, said low-profit margins appeared to be discouraging retailers from keeping gas stations open because authorities had a cap on retail prices.
Vietnam’s refined fuel imports in the first 10 months of 2022 rose 22.8 percent from a year earlier to 7.13 million tonnes, but costs rose 123.8 percent to $7.37 billion, according to official data.
“The demand for petroleum in the region has increased amid a pandemic recovery, pushing demand to exceed supplies, resulting in shortages and higher prices,” Vietnam’s top fuel importer Petrolimex said in a statement on Monday.
Petrolimex is still seeking to buy 8,500-8,900 tonnes of 10ppm sulphur gasoil in the market for prompt delivery between Nov. 10 and 14 via a tender that should be awarded by Nov. 1, two Southeast Asia-based traders said.
