Proposal for Petroleum Trading Enterprises in the Area Not to Disrupt the Supply of Petroleum in the Business System
What are the reasons why some retail fuel trading companies are requesting closure or temporary cessation of business?
In Official Dispatch 6192/BCT-TTTN of 2022, the Ministry of Finance explains as follows:
In recent days, there has been a phenomenon where some retail fuel trading companies are requesting closure or temporary cessation of business activities concentrated in certain provinces and cities like Can Tho, An Giang, Binh Phuoc, etc.
- The main reason for this phenomenon is that from the end of 2021 to now, the costs of fuel trading have increased significantly, and the primary trading companies do not have sufficient financial resources to import goods, so they mainly maintain the warehouse stock levels as prescribed.
- Many companies have drastically reduced sales commissions to limit the amount of goods taken by retail agents, leading to losses for retail trading companies.
- Additionally, the recent storm and flooding situation has partly affected the delivery of goods by companies, leading to interruptions or local shortages in supply in some areas.
Requesting fuel trading companies in the area not to interrupt the fuel supply in the business system? (Image from Internet)
Requesting fuel trading companies in the area not to interrupt the fuel supply in the business system
In Official Dispatch 6192/BCT-TTTN of 2022, some tasks and solutions need to be implemented to ensure maintaining a full and continuous supply of fuel for the domestic market, as follows:
- Requesting fuel trading companies in the area not to interrupt the fuel supply in their business systems; maintain sales activities at the retail fuel stores of the companies.
- Requesting primary fuel trading enterprises and fuel distribution enterprises in the area to share the supply and profit in the distribution system with retail agents and retail fuel stores reasonably; retail enterprises, agents, and fuel trading stores should share the difficulties faced by primary traders and fuel distributors in recent times.
- Directing state management agencies to closely monitor the sale of fuel at retail fuel stores in the area, ensuring that the sale activities of fuel trading companies are not interrupted; requiring businesses operating in the area to commit to strictly implementing the provisions in Article 26 of Decree No. 83/2014/ND-CP dated September 3, 2014, of the Government of Vietnam on fuel trading; Clause 21 Article 1 of Decree No. 95/2021/ND-CP dated November 1, 2021, of the Government of Vietnam amending and supplementing several articles of Decree 83/2013/ND-CP; strictly handle any violations.
Fuel prices on October 11, 2022, after executing the fuel price stabilization fund are specifically what?
- Executing the Fuel Price Stabilization Fund:
In Official Dispatch 6253/BCT-TTTN of 2022, guidance on the implementation of the fuel price stabilization fund is provided as follows:
In response to recent world finished fuel product price fluctuations and in implementing fuel price management under the market mechanism with state management, the Ministry of Industry and Trade and the Ministry of Finance have decided:
1. Fuel Price Stabilization Fund
1.1. Allocation to the Fuel Price Stabilization Fund
- E5RON92 gasoline: 200 VND/liter;
- RON95 gasoline: 400 VND/liter;
- Diesel fuel: 0 VND/liter;
- Kerosene: 0 VND/liter;
- Mazut oil: 708 VND/kg.
1.2. Disbursement from the Fuel Price Stabilization Fund
- E5RON92 gasoline: 0 VND/liter;
- RON95 gasoline: 0 VND/liter;
- Diesel fuel: 200 VND/liter;
- Kerosene: 0 VND/liter;
- Mazut oil: 0 VND/kg.
Thus, the allocation levels to the Fuel Price Stabilization Fund will be E5RON92 gasoline at 200 VND/liter, RON95 gasoline at 400 VND/liter, diesel fuel at 0 VND/liter, kerosene at 0 VND/liter, and mazut oil at 708 VND/kg.
Simultaneously, the disbursement levels from the Fuel Price Stabilization Fund for mazut oil is 0 VND/kg, kerosene is 0 VND/liter, diesel fuel is 200 VND/liter, E5RON92 gasoline is 0 VND/liter, and RON95 gasoline is 0 VND/liter.
- Fuel prices on October 11, 2022, after executing the fuel price stabilization fund
In Official Dispatch 6253/BCT-TTTN of 2022, the fuel prices on October 11, 2022, after executing the fuel price stabilization fund, are detailed as follows:
After executing the allocation and non-disbursement from the Fuel Price Stabilization Fund detailed in Section 1 above, the retail prices of commonly used fuel products on the market shall not exceed:
- E5RON92 gasoline: not exceeding 21,292 VND/liter;
- RON95-III gasoline: not exceeding 22,007 VND/liter;
- Diesel fuel 0.05S: not exceeding 24,187 VND/liter;
- Kerosene: not exceeding 22,820 VND/liter;
- Mazut oil 180CST 3.5S: not exceeding 14,094 VND/kg.
Therefore, the fuel prices on October 11, 2022, will be as follows: E5RON92 gasoline at a maximum of 21,292 VND/liter, RON95-III gasoline at 22,007 VND/liter, diesel fuel at a maximum of 24,187 VND/liter, kerosene at a maximum of 22,820 VND/liter, and mazut oil 180CST 3.5S at a maximum of 14,094 VND/liter.
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