Shorten gasoline adjustment cycle to resolve market issues: PM

By Cuu Long   October 13, 2022 | 01:58 am PT
Shorten gasoline adjustment cycle to resolve market issues: PM
An employee operates a pump machine in Ho Chi Minh City on October 11, 2022. Photo by VnExpress/Thanh Tung
Shortening the gap between gasoline price adjustments is necessary to ensure a more flexible market intervention to prevent shortages, Prime Minister Pham Minh Chinh said.

This is one solution authorities are studying in response to recent problems on the market, mostly caused by the lack of efficient cooperation between government bodies, he told a meeting with voters of Can Tho Province Thursday morning.

Some factors like the fluctuation of global fuel rates and issues with the supply chain also contribute to the problem in Vietnam, he added.

Vietnamese authorities typically adjust fuel retail prices on the first, 11th and 21st day of the month.

Southern citizens experienced many challenges in buying gasoline in recent weeks as many stations ran out of fuel or sold by a limited amount due to a disruption in supply and a decline in retailer commission, which resulted in loss.

Ho Chi Minh City, for example, recorded up to 137 stations running out of fuel Tuesday.

Fuel supply in the city, however, has been resumed since Wednesday with authorities guaranteeing there would be enough gasoline for the next 10 days.

A total 80 fuel trucks have been mobilized to deliver urgent inventory to empty stations.

[Fuel shortage causes arguments, frustration at HCMC gas stations

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