Northern petrol stations run out of gas ahead of price adjustment

The situation was recorded by the Vietnamese Directorate of Market Supervision at 21 stations on Saturday. Representatives of these stations explained that local companies had cut off supply or were only supplying small quantities. In Hanoi, some stations ran out of RON 95-III gasoline and only had diesel.

“We ran out of stock early Saturday morning,” said a station worker in Hanoi’s Dong Anh district.

In Vinh Phuc province, after checking six stations in Binh Xuyen district, the inspection team recorded three stations that ran out of RON 95-III gasoline, but E5 RON 92 and diesel in stock. Many stations in Thai Nguyen province also ran out of RON 95-III.

Chu Quoc Khanh, deputy director of Thai Nguyen’s Market Surveillance Branch, said that during the National Day holiday (September 1-4), he received reports from a number of companies asking to temporarily stop selling RON 95-III due to limited quantity.

This situation also happened a week ago in the southern provinces. Not only retail gas stations have struggled, but also the Vietnam National Petroleum Group (Petrolimex), which accounts for about 49% of the national retail market share.

The company said the sharp increase in consumption volume, especially the direct retail channel, made it difficult for companies to tap into resources. On average, each day, Petrolimex retails about 17,000 cubic liters of gasoline, but the volume has recently increased to over 21,000 cubic liters, and peaked on Wednesday, the day before the bank holiday weekend, at 27,000 liters cubes.

The sudden increase in consumption put great pressure on oil companies as their stocks quickly ran out.

The Ministry of Industry and Commerce has set up three teams headed by three deputy ministers to inspect the oil supply situation in cities and provinces. Coordination is needed to clarify the cause of the gasoline shortage, including supplies of E5 RON 92 and RON 95-III.

Since the beginning of the year, the domestic price of gasoline has undergone 22 adjustments, including 13 increases and eight decreases. It is expected that at the price adjustment on Monday, the price of gasoline will rise after several declines and periods of stability.

Eleanor C. William