PM orders stronger measures to ensure stable petrol supply

Prime Minister Pham Minh Chinh has issued an official dispatch, requesting stronger measures to ensure sufficient petrol supply for production, business activities and consumption by people and enterprises.

In the document, PM Chinh asked the Minister of Industry and Trade to take full responsibility before the Government and the PM for managing and ensuring petrol supply for the domestic market.

The Ministry of Industry and Trade (MoIT) was instructed to direct key petrol producers and traders to proactively develop supply plans to guarantee adequate fuel provision for distribution systems, maintain regular sale operations, and sell products at listed prices. It must also closely monitor developments in global and domestic petrol markets and adopt appropriate management measures when necessary.

The ministry was required to actively regulate supply among regions and localities to avoid shortages or disruptions, ensuring sufficient fuel for economic activities and social consumption.

The MoIT was also tasked with coordinating closely with the Ministry of Finance (MoF) in managing petrol prices in accordance with legal regulations, ensuring transparency and efficiency while preventing policy profiteering and group interests. This coordination should help harmonise the interests of the State, businesses and consumers. At the same time, the ministry must work with the MoF and relevant agencies to accelerate the replenishment of national petrol reserves and complete mechanisms for releasing reserves in emergency situations in line with the Law on National Reserves and other legal provisions.

Implementing tax policies

The Minister of Finance was assigned to strengthen inspection and supervision of the extraction, management and use of the petrol price stabilisation fund by key traders to ensure compliance with regulations.

The MoIT was tasked with implementing tax policies applicable to petrol products and providing timely guidance to relevant agencies and enterprises to ensure consistent implementation while facilitating petroleum imports.

Meanwhile, the PM assigned the Ministers of Industry and Trade; Finance; and Public Security, the Government Inspectorate, the National Steering Committee 389, and chairpersons of provincial and municipal People’s Committees to intensify inspections and supervision of petrol trading activities.

Authorities were requested to promptly detect and strictly handle violations such as hoarding, speculation, cross-border smuggling and breaches of petrol trading and price management regulations. Measures must also be taken to prevent retail fuel stations from suspending sales without legitimate reasons that could cause localised supply shortages.

The PM also asked the Minister of Culture, Sports and Tourism to coordinate with the Ministries of Industry and Trade; and Finance to direct media agencies to strengthen communications and provide accurate, timely and objective information about domestic and global petrol markets.

Leaders of major energy enterprises, including the Vietnam National Industry Energy Group, Vietnam National Petroleum Group (Petrolimex), Binh Son Refining and Petrochemical JSC, and Nghi Son Refinery and Petrochemical LLC, were instructed to maintain safe, stable and continuous operations of oil and gas refineries. They were also asked to optimise operations within technical limits to increase petrol supply for the domestic market amid global market fluctuations.

In addition, petrol distributors and retail stations were required to maintain regular sale operations, arrange sufficient personnel and ensure adequate fuel supply for the domestic market./.