The Department of Domestic Market Management and Development under the Ministry of Industry and Trade yesterday ordered all petroleum wholesalers, producers, and distributors to implement comprehensive solutions to ensure market stability during the peak holiday period.
According to the Department of Domestic Market Management and Development, in recent times, the price of refined petroleum products on the world market has fluctuated, with increases and decreases depending on the specific product. Domestically, at certain times, there has been a phenomenon of cautious sales of diesel fuel, especially in the Northern region, posing a potential risk to the supply-demand balance, production and business activities, and the daily lives of people during the peak Tet ( the Lunar New Year) holiday.
To maintain market integrity, the Department requires key traders to strictly adhere to their allocated 2026 supply quotas and fulfill all petroleum reserve obligations through a mix of domestic production and imports. Businesses need to proactively balance their supply from domestic production and imports, fully fulfill their petroleum reserve obligations as regulated, and be ready to supply the market in all situations.
The Ministry of Industry and Trade has instructed major petroleum producers to prioritize the safe and stable operation of the Dung Quat and Nghi Son refineries to ensure production and delivery schedules remain on track. Under the new directive, plant operators must immediately report any cessation of operations caused by maintenance, repairs, or technical incidents to the Department of Domestic Market Management and Development. This reporting requirement is designed to allow authorities to proactively develop contingency and operational plans to prevent market shortages.
The Ministry of Industry and Trade also requires petroleum wholesalers and distributors to prevent any disruption in the supply chain, from wholesale levels down to individual retail outlets. Under all circumstances, they must ensure a sufficient supply of petroleum to retail outlets within the distribution system to maintain regular and continuous sales operations, meeting the consumption needs of people and businesses during the Tet holiday.
The Department of Domestic Market Management and Development will coordinate with relevant agencies to resolutely handle violations to ensure the stability of the petroleum market before and after the Lunar New Year of the Horse 2026.
