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US-Iran War Impact: Panic Fuel Buying In Vietnam’s Hanoi As Oil Prices Surge
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March 11, 2026
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4:34Now PlayingHanoi gas stations saw a sharp rise in customers in recent days as fuel prices climbed above $1 per litre, triggering panic buying and prompting authorities to introduce urgent measures to stabilise a market roiled by the ongoing Middle East conflict. Footage captured on Tuesday shows lines of motorbikes and cars queuing at gas stations and inching forward as drivers waited to refuel. Several other locations were forced to shut early with 'out of gas' notices amid the surge in demand. Vietnam's Ministry of Industry and Trade has urged businesses to adopt work-from-home arrangements and called on citizens to avoid hoarding fuel. Prime Minister Pham Minh Chinh on Monday contacted his counterparts in Kuwait, Qatar and the UAE to secure additional fuel and crude oil supplies.
Oil and gas prices have surged after US and Israeli military operations against Iran and Tehran's retaliatory attacks on Israeli and US assets in the Gulf. With the Strait of Hormuz, a key route for about 20 percent of global oil, effectively closed and Qatar Energy halting LNG production, markets are bracing for tighter supplies and higher prices.
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