From 10 a.m. on October 31, the scene of people waiting in line to buy gasoline happened again in the inner city and the suburbs of Ho Chi Minh City. Some gas stations said they ran out of fuel or sold gasoline at a limit.
The Department of Industry and Trade of Ho Chi Minh City, on September 15, had a meeting with representatives of the agency system, general agents, distributors, and petroleum wholesalers in HCMC on the operation over the past time, especially amid the situation that many agents constantly threaten to close because of prolonged losses.
The July consumer price index (CPI) grew 0.4 percent from the previous month, contributing to the year-on-year growth of 2.54 percent in the first seven months of 2022, the General Statistics Office (GSO) said on July 29.
Based on the report of the Ministry of Agriculture and Rural Development (MARD) that about 45,000 fishing vessels are lying ashore, the Minister of Industry and Trade (MoIT) has recently signed Official Letter No.3822 to Prime Minister Pham Minh Chinh, proposing to use the budget to support fishers and underprivileged people affected by high petrol prices.
The price of E5 RON92 gasoline rose to VND31,117 per liter, an increase of VND882 per liter, and the new retail price of RON95-III gasoline was VND32,375 per liter, an increase of VND797 per liter on the afternoon of June 13.
The Ministry of Finance is considering putting forward another proposal for further fuel duty cuts, Minister Ho Duc Phoc told the 15th National Assembly during its third sitting in Hanoi on June 8 amid concerns over soaring fuel prices.
The ministries of Industry, and Trade, and Finance, on the afternoon of March 21, decided to request fuel enterprises to lower prices for all retail gasoline and oil products in the domestic market. However, consumers and businesses that directly use fuel assess that the reduction in gasoline prices in this adjustment is not as expected, although the global gasoline prices dropped sharply in the past week.
The Ministry of Industry and Trade has asked authorities of cities and provinces nationwide to step up checks and monitoring of oil and gas trade as the ongoing ups and downs of the global fuel market are having major impacts on the domestic supply and prices
According to experts, the war between Russia and Ukraine and economic sanctions by some countries against Russia will have a profound impact on the global economy, including Vietnam, especially on the import and export of agricultural, forestry, and aquatic products.
Retail gasoline prices in the domestic market continued to climb by more than VND500 per liter on the afternoon of March 1, the sixth consecutive increase and the fifth increase in a row in 2022. Currently, the selling prices of both RON 95 and E5 RON 92 gasoline are at historic highs.
The consumer price index (CPI) in November edged up by 0.32 percent over the previous month, 2 percent higher than December last year. In the first 11 months of this year, CPI surged by 1.84 percent year-on-year, the lowest increase since 2016, the General Statistics Office of Vietnam announced this morning.
After climbing for five consecutive times, the ministries of Industry and Trade and Finance, on November 25, decided to lower retail gasoline prices. However, the prices of RON95 and E5 RON92 gasoline remain at a high level.
The high gasoline prices (the highest level in the past seven years) have put pressure and affected many production and business activities of businesses and people. Over the past week, many types of goods, food, and services in Ho Chi Minh City have also rushed to raise their prices.