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Sunday, November 27, 2022

Ministry seeks feedback on fuel management and regulations

By N. Tan

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HCMC – To mitigate the ongoing fuel shortage, the Ministry of Industry and Trade has drafted two official dispatches on the management and regulations on trading fuel and sent them to authorities.

In the documents, the ministry asked for feedback from provincial and municipal governments and relevant authorities on eight main issues.

They comprise the interval between fuel price adjustments, regulations on discounts for retailers, whether retailers are allowed to buy gasoline from different fuel wholesalers, obligations and rights of fuel distributors, unifying state management agencies of petroleum products, the management and use of the fuel price stabilization fund, and regulations on fining violations related to trading petroleum products.

Meanwhile, the Ministry of Finance (MOF) has asked the Ministry of Industry and Trade and fuel wholesalers to report on fuel import costs.

Through observation, the MOF held that the country’s fuel base price of petrol and oil had been higher than the import costs of recent petroleum shipments.

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