Vietnam Fuel Market Transition: E10 Adoption and Import Surge
Vietnam's fuel imports exceeded $4.5 billion in early 2026, driven by Middle East supply concerns and a shift to E10 biofuel. The country has seen a notable increase in fuel imports and a significant transition from RON95 gasoline to E10 at thousands of fuel stations, impacting pricing and market dynamics.
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In the first half of May 2026, Vietnam imported over $596.7 million worth of crude oil, contributing to a total fuel import expenditure of $4.55 billion for nearly 4.33 million tons. The transition to E10 biofuel has led thousands of stations, including nearly 1,000 PVOIL and 5,500 Petrolimex stations, to stop offering RON95 gasoline.
Fuel imports rose by 20.9% year-over-year, with total values increasing by 85.7%, highlighting the urgency for businesses to secure supply amid ongoing Middle East conflicts. The Ministry of Industry and Trade is gathering feedback on a resolution to enhance E10 adoption, while adjustments to taxes on biofuels are being proposed to improve competitiveness against traditional fuels.
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