In response to significant disruptions in fuel supply and steep price hikes linked to the conflict involving the U.S., Israel, and Iran, Vietnam’s Ministry of Trade is promoting remote work as a strategy to reduce fuel consumption. This move comes amid growing concerns over the nation’s dependency on energy imports from the Middle East, which has left it particularly vulnerable during the crisis.
On Tuesday, the government highlighted Vietnam’s position as one of the hardest-hit countries by the ongoing turmoil. A Ministry of Industry and Trade report encouraged companies to adopt remote work policies whenever feasible, aiming to decrease the necessity for commuting and transportation.
The recent conflict has led to a dramatic increase in fuel prices, with gasoline soaring by 32%, diesel by 56%, and kerosene by an astonishing 80%, as reported by Petrolimex, Vietnam’s leading fuel trading company. This has resulted in long queues at petrol stations across Hanoi, with many drivers waiting anxiously to fill up their tanks.
In addition to promoting remote work, the ministry has advised both businesses and individuals to refrain from hoarding or speculating on fuel, in hopes of stabilizing the market.
Amid these challenges, residents were seen queuing at petrol stations in Hanoi on March 10, 2026, following the trade ministry’s appeal to businesses to support remote work to conserve fuel. The ongoing U.S.-Israeli conflict with Iran has further exacerbated the situation. (REUTERS/Khanh Vu)
To address the crisis, Prime Minister Pham Minh Chinh has actively engaged with leaders from Kuwait, Qatar, and the United Arab Emirates, seeking additional fuel and crude oil supplies. Furthermore, the Vietnamese government has temporarily suspended import tariffs on fuels until the end of April, aiming to alleviate some of the market pressures and ensure a steady supply.
President Donald Trump’s strikes on Iran have made for volatile crude markets, with prices surging to $120 a barrel in the U.S. over the weekend before dipping back to just over $80 on Monday night as Trump spoke to a Republican retreat in Florida.
Prices have stabilized after Trump assured investors the Strait of Hormuz will be safe for oil tankers in the Middle East, a notorious choke point for the largely dismantled Iranian regime.
President Donald Trump addresses reporters aboard Air Force One last week as War Secretary Pete Hegseth looks on. (SAUL LOEB / AFP via Getty Images)
The situation in the region remains tenuous as Iran has announced Mojtaba Khamenei as the next supreme leader, a decision that Trump told Fox News that he “was not happy” about.
“I don’t believe he can live in peace,” Trump said from Air Force One.
Iran’s Revolutionary Guard said Tuesday they would not let any oil out of the Middle East until U.S. and Israeli attacks cease, a threat that had prompted Trump to threaten to hit Iran “20 times harder” if it blocked exports.
Strikes on the Iranian leadership, the IRGC, and Iranian naval vessels and oil infrastructure have roiled the markets. ( Sasan / Middle East Images / AFP via Getty Images)
Despite the defiant rhetoric from both sides, investors placed strong bets Tuesday that Trump would call off his war soon, before the unprecedented disruption it has caused to energy supplies causes a global economic meltdown.
“I’m hearing they want to talk badly,” Trump said, as the Department of War has claimed 50 Iranian naval vessels have been sunk and Trump is suggesting the war objections are weeks ahead of schedule, if not nearly “complete.”
“It’s possible,” Trump added of engaging the new Iranian leadership, descendants of the deceased leaders, but said it “depends on what terms, possible, only possible.”
“You know, we sort of don’t have to speak anymore, you know, if you really think about it, but it’s possible,” he said.
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