A number of petroleum retail businesses have been closed or temporarily suspending their operations in different parts of Vietnam (Photo: VNA)Because of the market's difficulties, several petroleum retail businesseshave been closed or temporarily suspended their operation in differentparts of Vietnam.
The MoIT stated that from the end of 2021, especially since the conflictbetween Russia and Ukraine began in February 2022, developments on the worldpetroleum market has still been complicated, causing a shortage in supply andrising price. As a result, the average world price of finished petroleumproducts in the first ten months of 2022 increased by 57-85% comparedto the same period in 2021.
However, from the end of June to the end of September 2022, petrol pricesdecreased continuously. However, from the beginning of October, they began torise again due to OPEC's decision to reduce oil production.
Recently, several petroleum retail businesses closed or temporarily suspendedtheir work in HCM City, Can Tho, An Giang, Binh Phuoc, Dak Lak.
Besides the scarcity of global petroleum supplies, USdollar appreciation also exacerbated problems.
Experts said this had caused keypetroleum businesses to reduce costs or forced many of them toshut down.
The MoIT said according to reports from the leading petroleum businesses andthe Vietnam Petroleum Association, the cost of petrol and oil business continued toincrease, especially imported petrol.
In some localities, the Customs Sub-Department has stopped customsclearance for several key petroleum trading enterprises due to the lack ofelectronic data connection and late payment of taxes.
To assist in removing difficulties for the petrol and oil enterprises andensuring a sufficient supply of petrol and oil for the domestic market,MoIT requested the MoF to review and adjust all costs relatingto importing petrol and oil to Vietnam.
MoIT also asked the General Department of Customs tocreate conditions for key petroleum trading enterprises and to clearthe procedures for petroleum imports to serve the market.
In addition,it also proposed SBV for policies to support and createconditions for petrol and oil businesses to access preferential interest ratesand foreign currency sources to help businesses increase financial resources,reduce costs to import or buy petrol and oil, and ensure sufficient supply ofpetrol and oil for the domestic market.
On October 12, 2022, DeputyMinister Do Thang Hai worked with 31 leading petroleum businesses to findsolutions that remove difficulties and ensure the supply of petroleum to themarket.
Hay believed the problem began at the end of 2021. Therefore,the MoIT has worked with local businesses and provided recommendations andsolutions to best handle the problem.
He assigned the Domestic Market Department to consider their recommendationsand proposals, telling them if it is within the scope of theministry, it should be done soon.
He also said for other matters that were not underits authority and functions, the MoIT will coordinate with relevantministries, departments, branches and localities to solve them./.
VNA
