RismadarVoice Reporters
March 20, 2026
Fuel prices have risen sharply across parts of Southeast Asia, with Vietnam recording a significant hike of over 20 per cent in petrol prices amid fears of global supply disruptions linked to the ongoing Middle East conflict.
The Vietnamese government announced late Thursday an increase in the price of 95-octane gasoline to 30,690 Vietnamese dong ($1.20) per litre, while diesel prices surged by nearly 34 per cent to 33,420 dong.
The latest adjustment brings fuel prices in the country to more than 50 per cent higher for petrol and 70 per cent higher for diesel since the conflict escalated in late February.
Vietnam’s Ministry of Trade attributed the spike to multiple global factors, including the Middle East crisis, Iran’s control of the Strait of Hormuz, and the ongoing Russia-Ukraine war, all of which have disrupted global energy supply chains.
In response, Prime Minister Pham Minh Chinh has reportedly held talks with key oil-producing nations such as Qatar, Kuwait, Algeria, and Japan, seeking fuel support to stabilise domestic supply.
The country’s aviation authority has also warned of a potential reduction in domestic flights due to looming fuel shortages, although officials maintain that existing reserves can meet demand until the end of April.
The impact is already being felt by citizens. A Hanoi resident, Minh Anh, told newsmen that rising fuel costs have forced many people to cut back on travel.
“The traffic seems to ease as many cannot afford the continuous hike in fuel cost like myself,” she said.
The trend is not limited to Vietnam. In Myanmar, fuel prices jumped by about 30 per cent, triggering long queues at filling stations, while Thailand has also increased diesel prices this week.
The rising costs highlight the growing global ripple effects of geopolitical tensions on energy markets, with developing economies facing increased pressure from soaring fuel prices.
