The Ho Chi Minh City Department of Industry and Trade met with energy-sector businesses to update the situation of fuel and gas supply on March 5.
During the working session, they also discussed solutions to ensure adequate supply for the market amid ongoing global instability.
According to Mr. Trinh Quoc Viet, Deputy Director of Petrolimex Saigon, fuel demand in the city has been rising sharply. The company currently operates 138 directly managed fuel stations, supplying an average of about 2,108 cubic meters per day. On March 4, sales reached approximately 3,000 cubic meters, about 140 percent higher than normal levels.
The network of 147 franchise stations also recorded consumption of around 1,000 cubic meters per day, nearly 150 percent higher than usual.
Regarding supply, Petrolimex Saigon said it remains fully secured. In the first 10 days of March, the company plans to import about 146,000 cubic meters of fuel, which, together with existing inventory, is sufficient to meet market demand for around 39 days.
Petrolimex Saigon is also offering a discount of about VND400 to VND500 per liter to franchise stations to maintain a stable retail network. The company has proposed that the city allow fuel tank trucks to operate during restricted truck hours to shorten transport time and quickly deliver fuel from depots to retail stations.
Similarly, a representative of PVOIL said that the company has proactively prepared reserves to ensure supply for the market until the end of March and early April, while also developing scenarios to supplement supply if demand continues to rise.
In the gas sector, PetroVietnam Gas Corporation (PV GAS) affirmed it has proactively arranged import and storage plans to cope with geopolitical developments and fluctuations in the global energy market.
According to Mr. Nguyen Phuc Tue, Deputy General Director of PV GAS, the company plans to import three LNG shipments in the first half of 2026 to serve power generation and industrial production. In March alone, PV GAS has successfully arranged two LNG cargoes, each about 70,000 tons, from Qatar under contracts signed before the conflict, and Southeast Asia.
As international LNG prices have increased by around 50 percent, these shipments are considered competitively priced. The current available LNG inventory is about 15,000 tons, sufficient to supply power plants until the end of April 2026.
Meanwhile, Mr. Tran Anh Dung, Deputy General Director of Gas South Joint Stock Company, said that several suppliers have issued force majeure notices that may lead to gas supply difficulties after March 10. In response, the company proposed flexible distribution, increasing the filling ratio of eight kilograms gas cylinders instead of 12 kilograms cylinders so that more households can be served.
In the electricity sector, Mr. Bui Trung Kien, Deputy General Director of Ho Chi Minh City Power Corporation, said that the electricity industry has developed plans to ensure power supply during the hot season as well as for major events. The sector also encourages residents and businesses to save electricity and expand the use of rooftop solar power.
Concluding the working session, Mr. Bui Ta Hoang Vu, Director of the Ho Chi Minh City Department of Industry and Trade praised the proactive efforts of businesses in securing supplies and stabilizing the city’s energy supply chain.
However, he noted that the market still contains many unpredictable factors, urging companies not to be complacent and to strictly comply with reserve regulations while proactively seeking alternative supply sources when necessary.
The municipal Department of Industry and Trade also pledged to continue supporting businesses, accelerate administrative procedures in the energy sector, and coordinate with relevant agencies to facilitate transport operations, helping ensure a stable energy supply for the Ho Chi Minh City market.
Ensuring stable supply for the Ho Chi Minh City market remains a top priority, Director of the Ho Chi Minh City Department of Industry and Trade Bui Ta Hoang Vu emphasized.
