188 Vietnamese Fuel Companies Exceeded Inventory Benchmark in March

Vietnam’s Government Inspectorate released the findings of a special inspection of fuel trading activities on October 28. In March 2026, 188 of the 260 fuel trading companies inspected, or 72%, held fuel inventories exceeding 150% of their average inventory over the preceding three consecutive months on at least one day. The findings said this showed signs of hoarding as defined in Clause 3, Article 32 of Vietnam’s Decree No. 98/2020/NĐ-CP.

In their reports, the companies said their inventories exceeded the threshold for objective reasons. These included purchasing large quantities of fuel to secure supplies under the Ministry of Industry and Trade’s Directive No. 06/CT-BCT of March 9, 2026; prolonged waits for ships to berth, causing large shipments to arrive at once; and fulfilling previously signed purchase or supply contracts. The companies also argued that fuel inventories depend on domestic consumption and that using the preceding three-month average as a benchmark may not reflect operating realities.

Wholesale fuel traders responsible for sourcing and supplying fuel must also maintain mandatory reserves covering at least 20 days. All 19 wholesale traders inspected said the 150% inventory threshold should not apply to them.

Under the decree, the violation can be punished with a fine of 20 million to 30 million Vietnamese dong. Items involved may also be confiscated, and the use of business licenses or professional certificates may be suspended for three to six months. Vietnam’s Government Inspectorate has documented the companies’ suspected administrative violations and referred the files to the competent authorities for review and action.

Source: VietVance