What are the regulation on speculating and retailing petrol and oil in Vietnam?
What is the administrative penalty for speculating and retailing petrol and oil in Vietnam?
According to the provisions of Article 35 of Decree 99/2020/ND-CP on penalties for violations against other regulations on petrol and oil retail as follows:
"Article 35. Violations against other regulations on petrol and oil retail
1. A fine ranging from VND 1,000,000 to VND 3,000,000 shall be imposed for failure to display or clearly display selling time within a sale area as prescribed.
2. A fine ranging from VND 3,000,000 to VND 5,000,000 shall be imposed for selling petrol and oil using a mini filling column, hand-shake pump, barrel, bottle or another container, except for the case where the trader is a business household or petrol and oil distribution station belonging to the armed force (national defense or public security) in a mountainous area or highlands as prescribed which is allowed by the People’s Committees of a province or central-affiliated city to act as petrol and oil retail agent with the scale and equipment relevant to the petrol and oil trading conditions within such area.
3. A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed for failure to register selling time of a petrol and oil retail outlet with a competent authority as prescribed.
4. A fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed for any of the following violations:
a) Reducing the selling time shorter than the displayed or previously applied time without a plausible reason or without notifying a competent authority according to regulations;
b) Failure to sell or suspend sale without written approval by a competent authority or without notifying a competent authority as prescribed;
c) Reducing the sales of sold petrol and oil less than those of previously sold petrol and oil without a plausible reason or without notifying a competent authority according to regulations;
5. A fine ranging from VND 20,000,000 to VND 40,000,000 shall be imposed for selling petrol and oil using an automatic or mobile petrol and oil filling column without permission of the competent authority, except for the case specified in Clause 2 of this Article.
6. Additional measures:
The exhibit or instrumentality used for committing the administrative violation mentioned in Clause 2 or 5 of this Article shall be confiscated.
7. Remedial measures:
The violator is compelled to return the illegal profits obtained from the violations specified in Clauses 2 and 5 of this Article."
Thus, a fine ranging from VND 1,000,000 to VND 3,000,000 shall be imposed for failure to display or clearly display selling time within a sale area as prescribed.
A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed for failure to register selling time of a petrol and oil retail outlet with a competent authority as prescribed.
For the following violations: Reducing the selling time shorter than the displayed or previously applied time without a plausible reason or without notifying a competent authority according to regulations; Failure to sell or suspend sale without written approval by a competent authority or without notifying a competent authority as prescribed; Reducing the sales of sold petrol and oil less than those of previously sold petrol and oil without a plausible reason or without notifying a competent authority according to regulations, a fine ranging from VND 10,000,000 to VND 20,000,000 shall be imposed.
Note: The above fine is the fine applicable to the organization. In case administrative violations are committed by individuals, a fine will equal half of the fine prescribed for organizations (according to Article 5 of Decree 99/2020/ND-CP).
What is the criminal penalty for speculating petrol and oil in Vietnam?
According to the provisions of Article 196 of the Penal Code 2015 (amended and supplemented by Article 2 of the Law amending the Penal Code 2017), if there are enough signs to constitute a crime, the organization or individual may be penalized for the crime of speculation as follows:
"Article 196. Hoarding
1. Any person who takes advantage of the scarcity or fakes scarcity during a natural disaster, epidemic, war or financial hardship to buy in large quantities and stockpile goods from a price stabilization program or goods priced by the State in order to earn illegal profit in any of the following circumstances shall be liable to a fine of from VND 30,000,000 to VND 300,000,000 or face a penalty of 06 - 36 months' imprisonment:
a) The goods are assessed at from VND 500,000,000 to under VND 1,500,000,000;
b) The illegal profit reaped is from VND 100,000,000 to under VND 500,000,000.
2. This offence committed in any of the following circumstances carries a fine of from VND 300,000,000 to VND 1,500,000,000 or a penalty of 03 - 07 years' imprisonment:
a) The offence is committed by an organized group;
b) The offence involves the abuse of the offender's position or power;
c) The offence is committed in the name of an agency or organization;
d) The goods are assessed at from VND 1,500,000,000 to under VND 3,000,000,000;
dd) The illegal profit earned is from VND 500,000,000 to under VND 1,000,000,000;
e) The offence has a negative impact on social safety, order and security.
3. This offence committed in any of the following circumstances carries a fine of from VND 1,500,000,000 to VND 5,000,000,000 or a penalty of 07 - 15 years' imprisonment:
a) The goods are assessed at ≥ VND 3,000,000,000;
b) The illegal profit reaped is ≥ VND 1,000,000,000;
c) Dangerous recidivism.
4. The offender might also be liable to a fine of from VND 20,000,000 to VND 200,000,000, be prohibited from holding certain positions or doing certain works for 01 - 05 years.
5. Punishments incurred by a corporate legal entity that commits any of the offences specified in this Article:
a) A corporate legal entity that commits this offence in any of the circumstances specified in Clause 1 of this Article shall be liable to a fine of from VND 300,000,000 to VND 1,000,000,000;
b) A corporate legal entity that commits this offence in any of the circumstances specified in Points a, d, dd, e Clause 2 of this Article shall be liable to fine of from VND 1,000,000,000 to VND 4,000,000,000;
c) A corporate legal entity that commits this offence in any of the circumstances specified in Clause 3 of this Article shall be liable to a fine of from VND 4,000,000,000 to VND 9,000,000,000;
d) The violating corporate legal entity might also be liable to a fine of from VND 300,000,000 to VND 9,000,000,000, be banned from operating in certain fields or raising capital for 01 - 03 years."
Thus, any person who takes advantage of the scarcity or fakes scarcity during a natural disaster, epidemic, war or financial hardship to buy in large quantities and stockpile goods from a price stabilization program or goods priced by the State in order to earn illegal profit in any of the following circumstances: The goods are assessed at from VND 500,000,000 to under VND 1,500,000,000; The illegal profit reaped is from VND 100,000,000 to under VND 500,000,000, shall be liable to a fine of from VND 30,000,000 to VND 300,000,000 or face a penalty of 06 - 36 months' imprisonment
If The goods are assessed at ≥ VND 3,000,000,000; The illegal profit reaped is ≥ VND 1,000,000,000 or dangerous recidivism, it shall be liable to a fine of from VND 1,500,000,000 to VND 5,000,000,000 or a penalty of 07 - 15 years' imprisonment
Besides, the offender might also be liable to a fine of from VND 20,000,000 to VND 200,000,000, be prohibited from holding certain positions or doing certain works for 01 - 05 years.
The violating corporate legal entity might also be liable to a fine of from VND 300,000,000 to VND 9,000,000,000, be banned from operating in certain fields or raising capital for 01 - 03 years.
What is the penalty for retailing petrol and oil in Vietnam?
According to the provisions of Article 21 of Decree 99/2020/ND-CP and Clause 4, Article 4 of Decree 17/2022/ND-CP, violating the regulations on petrol and oil retail prices and process for adjusting petrol and oil retail prices, will be punished a fine ranging from VND 5,000,000 to VND 120,000,000 and forced to pay the illegally obtained profits, specifically as follows:
"Article 21. Violations against petrol and oil retail prices and process for adjusting petrol and oil retail prices
1. A fine ranging from VND 5,000,000 to VND 10,000,000 shall be imposed for listing petrol and oil retail prices inconsistently with those regulated by petrol and oil wholesalers or distributors.
2. A fine ranging from VND 30,000,000 to VND 50,000,000 shall be imposed for deliberately adjusting petrol and oil retail prices and oil retail prices at the time other than the one regulated by petrol and oil wholesalers or distributors.
3. A fine ranging from VND 50,000,000 to VND 70,000,000 shall be imposed for failure to send notifications or failure to send decisions on petrol and oil retail prices applied to units belonging to the petrol and oil distribution system ahead of the effective time of these prices in the case of any increase or decrease in petrol and oil retail prices.
4. A fine ranging from VND 100,000,000 to VND 120,000,000 shall be imposed for failure to correctly implement regulations on the sequence of adjusting prices or failure to implement regulations on the minimum time interval between two consecutive price adjustments in the case of adjusting the petrol and oil retail prices.
5. Remedial measures:
The violator is compelled to return the illegal profits obtained from the violation specified in Clause 2 of this Article."
Note: The above fine is the fine applicable to the organization. In case administrative violations are committed by individuals, a fine will equal half of the fine prescribed for organizations (according to Article 5 of Decree 99/2020/ND-CP).
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