A petrol station of Petrolimex. — VNA/VNS Photo
Prime Minister Phạm Minh Chính has signed a directive to continue implementing measures to ensure fuel supply.
Economic forecasts are showing the global situation will continue to be complex, with increasing strategic competition among major nations. It poses risks of supply chain disruptions, price fluctuations and potential shortfalls in the availability of goods and services.
According to Directive No. 99/CĐ-TTg from the Prime Minister, fuel is an essential commodity for production, business and consumption.
Although the domestic economy continues its positive recovery trend, it still faces many challenges.
The Prime Minister asked the Ministry of Industry and Trade (MoIT) to direct petrol wholesalers to proactively secure and provide adequate petroleum supply.
There must be no interruption in the fuel supply across the distribution network, from wholesalers, distributors and agents to retail stores.
Furthermore, regular sales activities must be maintained, with products sold at the listed prices, and strict adherence to the 2024 minimum total fuel supply allocation and fuel storage requirements as mandated.
The total minimum fuel supply for 2024 allocated to 36 fuel wholesalers is 28.43 million cubic metres per tonne of various fuel types.
At the same time, the Prime Minister asked to proactively prepare fuel supply plans for 2025 and the following years, ensuring there is no shortage or disruption in the supply chain as seen in 2022.
The Prime Minister stressed that there must be regular monitoring of global and domestic commodity market trends, as well as natural disasters such as storms and floods, to develop contingency plans to ensure an adequate supply of petroleum to the domestic market under all conditions,
He also directed the Ministry of Finance to enhance its inspection and supervision of fuel wholesalers regarding the management and use of the Fuel Price Stabilisation Fund, promptly identifying and strictly addressing any violations.
The State Bank of Việt Nam is tasked with coordinating with the MoIT to continue supporting fuel wholesalers and distributors in accessing capital.
The Prime Minister also directed the Việt Nam Oil and Gas Group (Petrovietnam) and the Việt Nam National Petroleum Group (Petrolimex) to develop timely, effective, and scientifically sound plans for production, distribution, storage, regulation, and retail to guarantee a sufficient fuel supply for the market.
The directive also emphasises strict punishment for hoarding, speculation and smuggling of fuel across borders. — VNS