Strange thing about gas stations before the time of price adjustment

Before the price adjustment period tomorrow (March 21), the reporter’s note at 3 gas stations in Ho Chi Minh City had the phenomenon of “running out of petrol and oil” 10 days ago, now it is operating normally. While, before the price adjustment period on March 11, people could not refuel at these gas stations.

Specifically, at 14:00 on March 10, the gas station at 439 Phan Van Tri Street, Ward 5 (Go Vap District) hung a sign of running out of fuel and oil.

Similarly, the gas station at 244 Kinh Duong Vuong, An Lac A ward (Binh Tan district) also left a sign of running out of gas outside.

On the morning of March 11, a few hours before the time of price adjustment, the gas station at 162 Nguyen Thi Thap Street, Binh Thuan Ward (District 7) also hung the sign “out of gas, temporarily suspending sales”.

Contrary to the above phenomenon, recorded at noon on March 20, one day before the time of price adjustment, the above gas stations were no longer “out of gas” but sold normally.

Gas station in Binh Tan district ran out of gas on March 10 (photo by Tran Chung)

Also at the above gas station in Binh Tan district, before this price adjustment period, it was still operating normally (photo: Tran Chung)

Along with that, the number of people going to fill up petrol at gas stations in this adjustment period did not increase suddenly, pulling each other to fill up as crowded as 10 days ago.

The above move of these gas stations is notable because the Ministry of Finance – Industry and Trade will adjust gasoline prices cyclically on March 21. But contrary to the previous times, it is forecasted that after 7 consecutive increases, the price of gasoline this period may decrease by 1,100 – 1,500 VND/liter. Similarly, the price of oil will decrease by about 1,900 – 2,500 VND/liter.

The question is, why is it that before the date the petrol price is forecasted to increase, it is sold out, but before the gasoline price is forecasted to decrease, there are still goods for sale? Part of the reason can also be explained from the increase in demand at that time but the supply could not meet, leading to a local shortage of goods.

Previously, information on the situation of gasoline prices, Deputy Director of Ho Chi Minh City Department of Industry and Trade – Mr. Nguyen Nguyen Phuong said that since the beginning of the year, experts have commented and predicted that gasoline prices will increase. However, the reality was different from the forecast when the oil price reached nearly 140 USD/barrel due to the influence of the war between Russia and Ukraine.

As for the supply from Nghi Son refinery and petrochemical plant, capacity has recovered to 80%-85%. It is expected that by the end of March, the beginning of April, 2022 can reach 100% of capacity.

In addition, to ensure the supply of gasoline, from the end of February, the Ministry of Industry and Trade had an import plan to ensure the supply. In addition to the supply from Nghi Son oil refinery, the ministry plans for 10 clues to import up to 2.4 million m3 of petroleum.

Besides, the Department of Industry and Trade will also work with the Department of Transport to have a plan to support traffic during peak hours for petrol tankers. Because when people focus on buying a lot, the supply of gasoline will be difficult due to the high demand that tank trucks cannot move during the day, leading to a shortage.

Tran Chung