PM orders balance of petrol demand, supply for domestic market
Prime Minister Pham Minh Chinh has issued a dispatch requesting joint efforts of ministries, sectors and localities to ensure the balance between supply and demand of petroleum products to meet the needs of the domestic market and support socio-economic recovery and development.
Hanoi (VNA) – Prime Minister Pham Minh Chinh has issueda dispatch requesting joint efforts of ministries, sectors and localities to ensurethe balance between supply and demand of petroleum products to meet the needsof the domestic market and support socio-economic recovery and development.
In the February 22 document, he noted that petroleum is a strategic, important andsensitive commodity that easily affects people's psychology and directly impacts macro-economic stability, so it must be managed and operated in ascientific and strict manner, in accordance with legal provisions.
He asked the Ministry of Industry and Trade to coordinatewith relevant ministries and agencies in managing the balance in the petroleum market to avoid shortage in the domestic market; and conductinginspection and check of supply and distribution units as well as trading stationsacross the country in order to promptly detect and resolutely deal with acts ofhoarding petroleum for profit and other violations.
The ministry was required to collaboratewith the Committee for Management of State Capital at Enterprises in workingwith the Vietnam Oil and Gas Group and related agencies and units to determinethe committed output of domestic petrol manufacturing enterprises in the comingtime as a basis for the import of petroleum to meet the market demand.
It should actively cooperate with the Ministry ofInformation and Communications, the Ministry of Finance and relevant agenciesto provide adequate, timely and accurate information on the situation ofpetroleum production, import and distribution, price administration, directionsof the Government and the Prime Minister on this issue, as well as related violationsand handling measures on the mass media.
The Government leader also requested the Ministry of Financeto coordinate with the Ministry of Industry and Trade and relevant agencies in studyingand proposing a plan to adjust the tax policy on environmental protection forpetroleum products, and asked the People's Committees of provinces andcentrally-run cities to closely inspect and supervise the sale of petrol andoil at retail stores in the localities./.
Retail petrol prices rose by more than 400 VND per litre from 3pm on January 21 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
Retail petrol prices increased by nearly 1,000 VND per litre from 3pm on February 11 following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.
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Illustrative image (Photo: VNA) 
