After nearly a month of erupting gas and water dozens of meters high, a well belonging to a household in Chu Prong commune unexpectedly stopped functioning, leaving residents concerned about a possible recurrence.
The Ministry of Industry and Trade has issued a plan to ensure fuel supply and stabilize prices in the new situation, with solutions to maintain the domestic petroleum market.
The Ministry of Industry and Trade is seeking feedback on a draft of a new circular proposing to stop selling RON 95 gasoline from January 1, 2026, and for the entire country to switch to using E10 bioethanol gasoline.
Highlands' series of coffee cabins, springing up in gas station areas, is considered smart, flexible, and caters to a large number of customers, taking advantage of the transient clientele.
PVOIL has installed approximately 400 electric vehicle charging stations at its gas stations, but Chairman Cao Hoai Duong said that when electric vehicles first appeared, "we were very resentful."
Many sources suggest that when buying a car, owners must sign a commitment to use standard fuel and will be denied warranty coverage if they do not use 0,001S fuel.
The Domestic Market and Inspection Department of the Ministry of Industry and Trade has just explained the reason for removing Xuyen Viet Oil from the 2021 inspection plan.
Due to not meeting the retail fuel conditions such as fire safety and safe distancing requirements, 74 gas stations in Binh Duong have had to temporarily cease operations.
In the first quarter, the two largest gasoline retailers in the country recorded total revenue of nearly 88.000 billion VND, with Petrolimex alone contributing over 67.432 billion VND in revenue.
The Deputy Chairman of the Finance and Budget Committee stated that the majority of opinions from ministries and agencies suggested retaining the regulations on the Price Stabilization Fund, including the Fuel Price Stabilization Fund.
As of March 24th, in Ho Chi Minh City, there are 2 gas stations that have temporarily ceased operations and 4 gas stations that are in the process of being dissolved.
Retail and distribution businesses selling gasoline claim that their prices and profit margins are controlled, resulting in losses with every sale.
The Minister of Industry and Trade stated that raising the net import reserve to 30 days requires 4.100 billion VND per year. Meanwhile, the Ministry of Finance says it only has 1.400 billion VND for national reserves.
Many gas stations are considering closing down due to losses caused by unreasonable discounts, yet they are still forced to continue selling fuel.
Domestic retail gasoline prices are projected to fall again in the next price adjustment period if global oil prices continue to cool down.
The Ministry of Finance believes that assigning unified pricing responsibilities to the Ministry of Industry and Trade will help the price-regulating agency grasp the nature of the factors that determine the base price.
The Ministry of Finance emphasized that entrusting the entire price management process to a single authority and placing the Ministry of Finance in charge of calculating gasoline and diesel business costs is inappropriate.
The Ministry of Industry and Trade wants to amend regulations on the rights of gasoline and diesel fuel dealers to allow gas stations to source fuel from multiple sources, possibly limited to 2-3 sources.
Fuel prices continued to rise in early 2023, causing concern among many businesses due to sharply increased operating costs and reduced competitiveness.
Representatives from the Nghi Son Refinery and Petrochemical Plant affirmed and committed to ensuring sufficient fuel supply to meet market demand before, during, and after the 2023 Lunar New Year.
Minister Nguyen Hong Dien stated that, over a period of approximately three months, businesses import goods at high prices and sell them at lower prices, negatively impacting their business performance.
Former Commander of the Kien Giang Provincial Border Guard, Nguyen The Anh, returned 5,6 billion VND out of a total of 19,1 billion VND received in bribes and was assessed by the Procuratorate as partially remorseful, leading to a recommendation for a reduced sentence.
The conclusion of the largest petroleum inspection recently issued by the Ministry of Industry and Trade clearly indicates that many key enterprises made mistakes and lacked the necessary conditions, but their cases were not forwarded to the relevant authorities, nor were recommendations for disciplinary action made.
Nhiều doanh nghiệp xuất nhập khẩu xăng dầu không đủ hàng để dự trữ thương mại theo quy định về kinh doanh mặt hàng chiến lược này.
The government has approved the submission to the Standing Committee of the National Assembly of the draft Resolution on environmental protection tax rates for gasoline, diesel, and lubricants, as proposed by the Ministry of Finance.
According to the General Department of Customs, in the first half of November, imports of refined petroleum products increased sharply compared to the second half of October, especially gasoline.
The Ministry of Industry and Trade has recently sent a written response to the General Department of Customs regarding the enforcement of administrative sanctions for violations in the petroleum business sector.
Shortening the fuel price adjustment period to 3-5 days and ensuring a minimum discount of 500 VND/liter for retail gas stations are among the solutions that the Ho Chi Minh City People's Committee has proposed to the Prime Minister.
In addition to seeking opinions from ministries, departments, and provinces, the Ministry of Industry and Trade is also consulting with key petroleum distribution and trading companies regarding the amendment of regulations on petroleum business.
The Ministry of Industry and Trade continues to direct key petroleum traders to ensure sufficient supply of petroleum products to the market, while also monitoring the maintenance of the minimum total petroleum supply.
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