For over a year now, Mr. Hung (73 years old, Hao Nam street, Dong Da district, Hanoi) has had to go to Lang Ha gas station to fill up his tank (4km from his house), because the Hao Nam gas station near his house has been closed and surrounded by corrugated iron.
"This gas station had to close after 8 years of business, making it very inconvenient for people like us, because every time we need to fill up with gas, we have to go all the way to Lang Ha, nearly 2km from home," said Mr. Hung.
This is just one of many businesses that have had to leave the petroleum market - a field that has been considered "lucrative" in recent times.
Mr. Bui Ngoc Bao - Chairman of the Vietnam Petroleum Association said that recently, many petroleum enterprises have imported at high prices, but have had to sell at low prices due to the sharp decrease in domestic petroleum prices and short adjustment cycles (7 days/time).
Businesses want to reduce the total minimum source partly due to the economic problem of large inventories. If they cannot sell, they must reduce inventory.
"For example, in 2024, the total minimum source of gasoline and oil allocated to the hubs will be about 28.4 million m3/ton, but the actual demand is only 25 million m3/ton. Enterprises that import and cannot sell will have large inventories," said Mr. Bao.
Forecasting domestic gasoline supply in the last 4 months of 2024, the Ministry of Industry and Trade said that the total production and import source in the last 4 months of the year according to the quarterly plan registration of traders will reach about 8 million m3/ton of gasoline of all kinds.
Besides, the average consumption in the last 4 months of the year is estimated at more than 2 million m3/ton/month and inventory is about 1.8-2 million tons.
Thus, if there are no sudden factors affecting, the supply of gasoline in 2024 will meet the needs of production, business and consumption of the people.
However, Mr. Phan Van Chinh - Director of the Domestic Market Department still noted a number of solutions in the last months of 2024 to ensure domestic gasoline supply to serve production, business and consumption development.
In particular, the Ministry of Industry and Trade will direct petroleum traders to closely follow the implementation of the minimum total resources assigned and the quarterly registration plan, and to carry out the inspection and supervision plan for petroleum trading activities according to the plan. Continue to closely coordinate with ministries and branches in state management of petroleum products.
For petroleum wholesalers, the Director of the Domestic Market Department requires strict implementation of the directions of the Government and the Ministry of Industry and Trade on solutions to ensure adequate supply of petroleum for production, business and consumption of people and enterprises;
Proactively produce and import to ensure adequate supply of gasoline and oil for the domestic market in all situations; strictly implement the total minimum gasoline and oil source allocated in 2024 and reserve gasoline and oil according to regulations.
In particular, traders absolutely must not interrupt the supply of gasoline in the business system (from the source, distributors, and retail businesses).
In all situations, it is necessary to provide enough goods to retail stores in the distribution system of the enterprise to maintain regular sales activities. It is necessary to review and ensure that the conditions for petroleum trading are maintained according to regulations and comply with the legal regulations on petroleum trading.
