Petrolimex Saigon suffers loss in petrol trading

At the working session with Nha Be Petrol Warehouse General, belonging to Area 2 Petrolimex Company (Petrolimex Saigon), Vice Chairwoman of the People's Committee of Ho Chi Minh City Phan Thi Thang, on the afternoon of September 5, asked Petrolimex to continue to maintain the supply of gasoline and ensure no shortage of petroleum products in the city.
Petrolimex Saigon suffers loss in petrol trading ảnh 1 A petrol station in HCMC adjusts its selling prices on September 5. (Photo: SGGP)
Petrolimex and large enterprises should share difficulties and profits with retail enterprises so that these retail petrol stations can survive, she added.

Chairman of the Board of Directors of Petrolimex Saigon Vo Van Tan suggested that the People's Committee of HCMC and State management agencies strengthen inspection, ensuring that all key traders and distributors are responsible for ensuring the supply of petrol products to fully meet the sales demand of their networks; aiding enterprises to maintain and develop the petroleum retail system in the area.

Departments, agencies, and the Department of Market Surveillance of HCMC should coordinate to strengthen inspection of the compliance with regulations of franchisees, ensuring the selling prices, quality, and quantity of petrol products, he suggested.

According to the current pricing method, there was a time when Petrolimex Saigon only received VND280 per liter but had to pay the franchisor VND350 per liter to encourage and share difficulties. In fact, in the petroleum business, from the beginning of the year to now, Petrolimex Saigon has been losing about VND20 billion. If the situation does not improve, it will suffer a loss of over VND100 billion by the end of this year.

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