The domestic petroleum supply should meet local consumption demands. — Photo congthuong.vn

The Ministry of Industry and Trade has said domestic petroleum supply is able to meet local consumption demand.

According to a press release issued on March 26, large petroleum trading companies and some departments of industry and trade have reported that companies have provided enough supply for the local market.

Companies have also committed to ensuring petroleum supply for domestic production, business and other consumption activities via their retail system.

In addition, traders must monitor changes to the petroleum supply, the ministry said. In case they have difficulty meeting domestic petroleum demand, they must report the issues to the ministry to find solutions.

The companies said that if the domestic supply could not meet the local demand, they will find reasonable imports to ensure enough supply for the market.

To ensure strict implementation of regulations on petroleum business, the ministry has also asked the General Department of Market Surveillance to strengthen inspection and supervision of petrol and oil trading companies and their retail system. The ministry will strictly handle traders who violate regulations. — VNS