The Ministry of Industry and Trade held a press conference in the first quarter of this year on the afternoon of March 30 in Hanoi. Answering the question about the management of the petrol market and petrol price in the coming time, Deputy Minister of Industry and Trade Do Thang Hai said that the domestic petrol prices would still depend on world prices. Negotiations between Russia and Ukraine have recently made progress. Therefore, the global crude oil price declined in the last two days. The National Assembly Standing Committee has passed a resolution allowing the reduction of environmental protection tax by VND2,000 per liter for gasoline and VND1,000 per liter for oil from April 1. However, if the world oil prices increase by VND3,000 per liter, the domestic will have to climb by VND1,000 per liter. After the average price for this operating period is available on March 31, the ministries will set a new petrol price level but ensure the harmony of the interests between fuel enterprises and consumers.
Regarding information that Nghi Son Oil Refinery has not yet planned to deliver goods in April and May, affecting supply in the near future, Deputy Minister Do Thang Hai said that in the scenario of gasoline supply in the second quarter that the Ministry of Industry and Trade stated did not take into account the amount of petroleum supplied by Nghi Son Oil Refinery. According to Mr. Hoang Anh Tuan, Deputy Director of the Domestic Market Department, after overcoming problems, Nghi Son Oil Refinery has basically restarted production; however, the Ministry of Industry and Trade has not yet received the delivery plan for the second quarter of this unit.
As for gasoline imports, Deputy Minister Do Thang Hai said that in the context that the conflict in Ukraine remained tense, petroleum importers had faced difficulties recently, such as the source of gasoline, import price, and delivery time. However, in the second quarter, the ministries will try to ensure enough petroleum supply for domestic production and consumption needs. In the third quarter, the Ministry of Industry and Trade will work with Nghi Son Oil Refinery to discuss the volume of petrol products it can supply each month. "If there is a gasoline shortage, the Ministry of Industry and Trade will continue to ask enterprises to import it," said Deputy Minister Do Thang Hai.
