Supply increases, fuel market gradually stabilizes

Two days after the latest upward adjustment of fuel prices, there are now no crowds at gas stations in Ho Chi Minh City anymore, even though certain stations still temporarily close due to out of inventory.

A gas station in HCMC
Many gas stations in the Comeco chain had had to shut down for the time being due to empty stock, then reopened to serve crowds of people always in disorder state. Thanks to more supply up to 70-80 percent of the usual amount, plus buyers in a more stable mind, these stations report they are coming back to normal operation now.

Similarly, fuel stations on Ba Thang Hai Street (District 11), Hai Ba Trung Street (District 1), Ly Thai To Street (District 10) no longer see crowds of buyers. There is no more purchase limit of VND20,000-30,000 per person (US$0.8-1.3) like two days ago, and the waiting time is just a few minutes.

There are still certain gas stations unable to fill their inventory, and thus having to close temporarily, like the one on Nguyen Chi Thanh Street (District 5), Dien Bien Phu Street (District 3). However, they do not create such a fuss, and buyers can easily move to other stations near there to get their petrol.

Fuel wholesalers in HCMC affirmed that even with a lower supply now compared to the past, it is still sufficient to satisfy the demands of city residents. Saigon Petro and Petrolimex also confirmed the stability of the supply source, and most retailers in their systems are open all day to serve people in need.

“Our unit accounts for around 30 percent of the HCMC market share, and we ensure enough fuel to distribute to stations in our system. Since October 11, when the quantity of buyers unexpectedly increased and we were allowed to use petrol tanks for distribution at daytime, we have double our output from 1,200m3 a day”, said Deputy Director of Saigon Petrolimex Dao Van Hung.

Yesterday afternoon, the HCMC Department of Industry and Trade held a press conference to inform the status of industrial production, trading activities in HCMC in the third quarter this year. Regarding the temporary shortage of fuel in the city for last few days, the department stated that everything is still under control. After its proposal to allow fuel tanks to distribute merchandise at daytime, the petrol volume delivered to gas stations is quickly increasing. There will be no more shortage like it used to be two days ago.

Other news