Prime Minister Pham Minh Chinh has made it clear that he wants to ensure a stable supply of gasoline, regardless of the situation. He has instructed that gasoline prices be regulated according to regulations. Currently, there are 16 petroleum distributors who have returned their licenses, and the Ministry of Industry and Trade is responsible for ensuring domestic fuel supply with over 300 gasoline and oil distributors in the market.
According to the Ministry, the license returns were voluntary due to failing business conditions. Total imports and domestic purchases of petroleum in the second quarter were approximately 6.35 million m3, with consumption at about 6.3 million m3. The Ministry confirmed that there is enough petroleum inventory to meet demand for consumption and production.
Apart from petroleum, the Prime Minister has also addressed other issues such as electricity prices, medical services, and food supply. The Ministry of Transport has been tasked with ensuring and stabilizing air transport capacity during the upcoming summer peak period.
The Prime Minister emphasized the importance of monitoring essential goods production and supply to prevent shortages while calling for strict handling of cases involving false information that could disrupt the market. In May, consumer prices increased by 4.4% compared to the same month last year, with food and housing being significant contributors. The World Bank highlighted that supporting domestic demand would be essential in addressing international demand’s weak recovery but strong US dollar pressure on exchange rates may increase costs for solutions proposed to support the economy.
Overall, Prime Minister Pham Minh Chinh is focused on ensuring stability across various sectors while addressing specific concerns related to energy supply, transportation, healthcare, housing, food supply, and more broadly economic growth amidst global challenges such as inflationary pressures from a stronger USD or ongoing pandemic effects on trade patterns or consumer behavior.
