The Government requires to ensure the balance between supply and demand of petroleum products

The Government Office has just sent an official dispatch conveying the direction of Deputy Prime Minister Le Van Thanh to the ministries and agencies: Industry and Trade, Finance, Public Security, Information and Communication and The bank of Viet NamGovernment Inspector, Committee for Management of State Capital at Enterprises and People’s Committees of provinces and centrally run cities related to the issue of ensuring the balance of supply and demand petroleum products.

Accordingly, the Deputy Prime Minister requested the ministries and agencies to continue to promptly, seriously and fully implement the Prime Minister’s instructions on ensuring the supply of petrol and oil for the domestic market and documents indicating related religion.

At the same time, Deputy Prime Minister Le Van Thanh requested the ministries, agencies, to study and absorb the recommendations of the Party Personnel Committee of the Ministry of Industry and Trade in the process of implementing the direction of the Prime Minister and according to their functions, assigned tasks and authority to ensure the balance between supply and demand of petroleum products to meet the needs of the domestic market and support socio-economic recovery and development.

The Government requires to ensure the balance between supply and demand of petroleum products. Illustration.

Previously, in order to ensure a balance between supply and demand of petroleum products to meet the needs of the domestic market and support socio-economic recovery and development, the Prime Minister issued Official Letter No. 160/CD- TTg requested relevant ministries and agencies to ensure domestic petroleum supply.

The Prime Minister requested the Ministry of Industry and Trade to assume the prime responsibility for, and coordinate with relevant ministries and agencies in, being proactive and drastic in managing the balance between supply and demand of the petroleum market according to its competence, functions and tasks. delivery, ensuring that there is no shortage of petroleum supply for the domestic market.

At the same time, assume the prime responsibility for, and coordinate with relevant agencies in, strengthening the inspection and examination of petrol and oil supply and distribution units, and petrol and oil trading stations across the country in order to promptly detect and resolutely handle strictly according to the provisions of law acts of hoarding goods for profit and other violations (if any) in petroleum business activities.

The Ministry of Industry and Trade shall assume the prime responsibility for, and coordinate with the Committee for the Management of State Capital at Enterprises, in working with the Vietnam Oil and Gas Group and relevant agencies and units to determine the output commitments of manufacturing enterprises. domestic petroleum export in the coming time, as a basis for the import of petrol and oil to meet market demand…

According to the recent petrol price adjustment period, from the afternoon of April 12, the price of E5 RON 92 gasoline decreased by 830 VND/liter to 26,470 VND/liter; RON 95 gasoline decreased by 840 VND/liter to 27,310 VND/liter. This third consecutive gasoline price reduction helps fuels cool down after a period of rapid and strong increase. Before that, the price of gasoline continued to increase, once increasing by 3,000 – 4,000 VND/liter.

According to the Resolution of the National Assembly Standing Committee, from April 1 to the end of this year, the domestic retail petrol price will be reduced by 50% of the environmental protection tax.

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