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Ho Chi Minh City
Wednesday, November 30, 2022

Trade Ministry says fuel supplies stable

The Saigon Times

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HCMC – Local fuel supplies have gradually stabilized, Deputy Minister of Industry and Trade Do Thang Hai told a recent meeting with the HCMC Department of Industry and Trade.

The country’s two oil refineries, Dung Quat and Nghi Son, are ensuring normal fuel supply, he said.

The Ministry of Industry and Trade had earlier asked the two oil refineries to ramp up their output and operate at total capacity to ensure adequate fuel supply for the domestic market, the local media reported.

Import fees on domestic fuels have been reduced. However, import costs remain high, so the ministry will continue to report the situation to the Government for solutions to support fuel firms, said Hai.

In addition, the ministry will put forward measures asking banks to offer preferential loans for these firms to facilitate their fuel imports.

Speaking at the meeting, Bui Ta Hoang Vu, director of the HCMC Department of Industry and Trade, said that 540 of a total of 550 gas stations, 15 fuel importers and 60 distributors in the city had returned to normal operation.

The city consumes up to seven million liters of fuel daily.

As planned, Minister of Industry and Trade Nguyen Hong Dien will lead a working delegation to check the Nha Be petroleum warehouse in HCMC under Petrolimex Saigon today, October 19.

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