According to reports from multiple petrol retailers, fuel wholesalers and distributors have once again lowered discount rates, which could result in the closure and suspension of operations for petrol retailers due to losses.
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.
After the supply disruption has just improved, petrol stations in Ho Chi Minh City have continued to struggle to operate in the context of a discount of almost zero Vietnamese dong in the past few days.
The retail gasoline prices are expected to be adjusted nationwide on September 1. Dozens of retail petrol stations in the provinces of An Giang and Dong Thap have again asked to stop sales temporarily because of losses.
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.