The Domestic Market Management and Development Department (Ministry of Industry and Trade) has just issued a decision to fine 3 key petroleum trading enterprises with a total amount of 450 million VND for violating regulations on petroleum stockpiling and circulation and not registering the distribution system with competent state management agencies as prescribed.
This is the next move in the strengthening of inspection and supervision of gasoline and oil business activities to ensure supply for the market and tighten discipline in this field.
Implementing the direction of the Government and Decision No. 72/QD-TTTN dated March 9, 2026 of the Director of the Domestic Market Management and Development Department on establishing a delegation to urge state management and supervise key traders in the implementation of gasoline and oil supply and reserve circulation, functional forces are simultaneously strengthening the review and inspection of compliance with legal regulations of key enterprises nationwide.
Through actual inspection, functional agencies have discovered and handled 3 key petroleum trading enterprises that violated regulations on mandatory circulation reserve levels.
Accordingly, on May 11, 2026, Phuc Lam Fuel Joint Stock Company, located at 60A Hoang Quoc Viet, Phu Nhuan Ward, Ho Chi Minh City, was administratively fined 130 million VND for maintaining gasoline and oil reserves lower than the minimum level according to regulations.
Following that, on May 14, 2026, Long Hung Trading and Service Co., Ltd., address No. 20 Nguyen Thi Huynh, Phu Nhuan Ward, Ho Chi Minh City, was also fined 130 million VND for the same violation.
On May 21, 2026, Anh Phat Petro Joint Stock Company, address No. 306B Ba Trieu, Ham Rong ward, Thanh Hoa province, was fined 190 million VND for two violations including: Maintaining gasoline and oil reserves lower than the minimum level as prescribed and not registering the distribution system with competent state management agencies as prescribed.
According to current regulations, key petroleum traders must maintain a minimum circulating reserve level to ensure stable supply for the market, limit the risk of supply chain breakdowns, and contribute to ensuring national energy security.
Previously, in May 2026, the Domestic Market Management and Development Department discovered and handled 2 key enterprises violating regulations on maintaining mandatory minimum gasoline and oil reserves and not registering distribution systems with competent state management agencies, with a total fine of 320 million VND.
The continuous detection and handling of violations shows the determination of the Domestic Market Management and Development Department and functional forces in strengthening discipline, improving the effectiveness of state management of gasoline and oil business activities; and at the same time requiring key traders to seriously fulfill their responsibilities for supply and circulating reserves in accordance with legal regulations.
