Gas prices rise, people line up in long queues to fill up.
From the morning of March 5th, immediately after learning that gasoline prices would be sharply increased from 3 PM that day, many people rushed to gas stations to fill up their tanks, and even stockpile extra fuel. According to the price adjustment announcement, RON95-III gasoline has exceeded 22,000 VND/liter, marking the second consecutive price increase recently.
Reporters observed a sudden surge in traffic at the Yen Thanh gas station (Yen Thanh commune) at around 2:30 PM on March 5th. Hundreds of cars and motorbikes lined up, waiting their turn to refuel. Due to the overwhelming number of vehicles, many were parked haphazardly on the road, causing localized congestion and posing a potential traffic safety hazard.
Mr. Tran Van Chien, the owner of a car in Yen Thanh commune, said that although his car's fuel tank was still nearly half full, he decided to go to the gas station to refuel after hearing that gasoline prices would increase sharply that afternoon. "Hearing that gasoline prices would rise sharply this afternoon, we rushed to refuel beforehand. Even though we had to wait more than 30 minutes for our turn, we still tried our best to wait," Mr. Chien shared.
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Not only cars, but the number of motorbikes coming to refuel has also increased significantly. Many people even brought plastic containers to buy extra gasoline to stock up at home. Observations show that gas station employees had to work continuously to serve the sudden surge in customers.
Ms. Le Thi Binh, a resident of Quan Thanh commune, said, "I decided to fill up my car's tank before the price adjustment. This afternoon, the price of gasoline increased, so we took the opportunity to fill up. Even though it was past 3 PM – the time when the new price was supposed to take effect – I saw that there were still many people, so I also took the opportunity to buy some."
On the afternoon of March 5th, the Ministry of Industry and Trade announced the fuel price adjustment, effective from 3 PM that day. In this adjustment period, the inter-ministerial committee of the Ministry of Industry and Trade and the Ministry of Finance continued to decide not to allocate or utilize the Fuel Price Stabilization Fund for E5RON 92 gasoline, RON 95 gasoline, diesel fuel, kerosene, and fuel oil.
Accordingly, the selling prices of petroleum products on the market from 3 PM on March 5th are as follows: E5RON 92 gasoline is 21,449 VND/liter, an increase of 1,926 VND/liter compared to the current base price and 891 VND/liter lower than RON95-III gasoline. RON 95 gasoline is priced no higher than 22,340 VND/liter, an increase of 2,189 VND/liter compared to the current base price.
The price of diesel fuel is 23,037 VND/liter, an increase of 3,758 VND/liter compared to the current base price. The price of kerosene is 26,601 VND/liter, an increase of 7,132 VND/liter compared to the current base price.
The price of fuel oil will not exceed 17,496 VND/kg, an increase of 1,807 VND/kg compared to the current base price.
At another gas station located in Yen Thanh commune, not far away, the number of customers remained high after the price increase. Many residents said that the continuous increase in gasoline prices, along with information about the international tensions, made them worried that fuel supply could be affected in the near future.
Amidst the rush of people buying gasoline and diesel fuel, a representative from the Fuel Business Department of Petrolimex Nghe An Co., Ltd. stated that the supply in the area is currently being ensured. According to the representative, Petrolimex Nghe An is the main fuel supplier in the province with 86 operating retail outlets.
“Currently, the supply of petroleum products remains stable. Our warehouses are stockpiling over 14 million liters of various types of fuel, enough to supply the market for the next 10 days or so. Regarding information related to the conflict between the US and Iran that may affect the global petroleum supply, it is still difficult to predict specifically. However, we will try our best to ensure supply to meet the needs of the people,” a company representative said.
In light of these developments, authorities also advise people not to worry excessively or hoard fuel beyond what is necessary, to avoid putting pressure on the supply system and to prevent potential safety risks during fuel storage.
