Vietnam spends US$1.7 billion importing petrol in two months

Vietnam's petrol and oil imports increased sharply in the first two months of 2023, reaching US$1.7 billion, a surge of 56.3% year on year, the Ministry of Industry and Trade (MoIT) has reported.
Vietnam's petrol and oil imports increased sharply in the first two months of 2023, reaching US$1.7 billion. (Photo: VNA)

Vietnam's petrol and oil imports increased sharply in the first two months of 2023, reaching US$1.7 billion. (Photo: VNA)

According to the Vietnam National Petroleum Group (Petrolimex), from January 20 to February 21, the group imported 168,596 cubic metres of petrol, 162,308 cubic meters of diesel and 24,931 cubic meters of mazut to supply to the domestic market.

The group also purchased 284,369 cubic meters of gasoline, 245,619 cubic meters of diesel and 1,651 cubic meters of kerosene from domestic oil refineries.

During the reviewed period, Petrolimex’s sale volume of gasoline, diesel, kerosene and mazut reached 435,800 cubic meters, 344,935 cubic meters, 1.961 cubic meters and 18,171 cubic meters, respectively.

Based on market demand forecasts in 2023, the ministry has allocated import quotas of gasoline and oil to businesses at 27.34 million cubic meters/tons, an increase of 15% compared to the previous year to ensure supply for the market.

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