The fluctuations of Vietnam’s Petroleum market over the period from 2019 to 2022

Petroleum plays an indispensable role in today’s economy. Strong fluctuations in short-term gasoline prices can lead to negative factors, immediately impacting consumer psychology. This paper analyzes the fluctuations of Vietnam’s petroleum market over the period from 2019 to 2022. These fluctuations were mainly caused by the shortage of imported supply, as many private wholesale traders did not import petroleum adequately. To solve the lack of petroleum supply, besides efforts to maintain stability and keep domestic oil refineries running at a high-capacity rate, it also needs to improve the management of petroleum imports to increase the amount of imported petroleum.