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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

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Ho Chi Minh City
Friday, April 4, 2025

Nearly US$5 billion spent on fuel imports in Jan-July

The Saigon Times

Must read

HCMC – Vietnam spent nearly US$5 billion importing oil and gasoline products between January and July, up 61% year-on-year.

Data from the Ministry of Industry and Trade showed that Vietnam imported 1.05 million tons of oil and gasoline products worth US$790 million in July alone, taking the total volume and value in the first seven months of the year to 6.26 million tons and US$4.95 billion.

During the seven-month period, Vietnam increased fuel imports from South Korea, Singapore and Malaysia to ensure sufficient domestic fuel supply.

The Nghi Son oil refinery, which supplies around 35-40% of the domestic fuel demand, recently announced its 55-day maintenance shutdown beginning August 25.

The Ministry of Industry and Trade, in collaboration with other relevant ministries and local authorities, will continue to closely monitor the fuel market to ensure sufficient fuel supply in the nation.

Vietnam also exported about 1.26 million tons of oil and fuels during the first seven months of the year, generating revenue of US$1.02 billion.

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