Prime Minister Pham Minh Chinh has instructed that there be no shortage of gasoline supply and that prices be regulated according to regulations. In a telegram on June 23, the Prime Minister emphasized the need to ensure domestic fuel supply and avoid shortages in all circumstances.
Currently, there are nearly 300 gasoline and oil distributors in the market, a decrease of about 10% compared to the end of 2023. These distributors buy fuel from key businesses to sell at affiliated retail stores. According to the Ministry of Industry and Trade, the distributors who returned their licenses did so voluntarily after failing to meet business conditions.
Total imports and domestic purchases of petroleum in the second quarter were around 6.35 million m3 tons, with consumption at about 6.3 million m3 tons. The Ministry of Industry and Trade assures that there is enough supply to meet demand for consumption and production, with management agencies prepared to ensure adequate petroleum supply.
The Prime Minister has also reviewed electricity prices, medical services, and the food industry to prevent cost-push inflation. The government is closely monitoring the production, input price fluctuations, and demand in the food sector to regulate supply and demand promptly and avoid shortages.
In the aviation sector, the Ministry of Transport is working on stabilizing air transport capacity and balancing flight loads. The Prime Minister has also emphasized the importance of handling cases of spreading false information that can disrupt the market.
In May, the consumer price index increased by 4.4%, with food and housing being the main factors. The World Bank has suggested ways to support the economy, but there are concerns about the impact of a stronger USD on reducing interest rates. Overall,