The Ministry of Industry and Trade (MoIT) and the Ministry of Information and Communications (MoIC) have jointly launched a national petroleum management database system.
MoIT said the system would enhance the state management of petroleum, prevent illegal practices in the fuel business and help the authorities balance petroleum supply and demand.
In the first phase of development, two petroleum producers, 38 wholesalers and 329 distributors were given accounts to sign up.
Data uploaded to the system and its relevant applications will strictly with regulations on data reporting and information security.
The MoIT said it will continue to work closely with MoIC to refine the system, thereby further improving the state management of petroleum through the application of IT.
Viet Nam has 38 petroleum wholesalers, 329 distributing traders and 17,000 retailers so far. Total petroleum supply is expected to reach 6.7 million cubic metres in Q2, including 3.7 million from domestic production, 1.5 million from imports and 1.5 million in reserve.
In the petroleum price adjustment on May 23, E5 RON 02 gasoline was adjusted up by VND680 to VND29,630 per litre, and RON 95 III by VND670 to VND30,650 per litre. — VNS