Modern production line of Hana Micron Vina Co., Ltd., 100% Korean-invested, at Van Trung Industrial Park (Illustrative photo: Danh Lam/VNA)

According to the report released on March 16, the development comes as Vietnamese authorities implement coordinated fiscal measures and supply regulation to stabilize domestic fuel prices amid global oil price fluctuations.

Specifically, the government has used the petroleum price stabilization fund, reduced MFN import tariffs on certain fuel products, and mobilized approximately four million barrels of oil from partners to ensure short-term supply.