To urgently amend regulations on gasoline price operating time in Vietnam

To urgently amend regulations on gasoline price operating time in Vietnam (Internet image)

On November 2, 2022, the Government issued Official Telegram 1039/CD-TTg on the management and administration of petroleum products.

The Prime Minister requested the Ministries of Industry and Trade, Finance, Information and Communications, and the Governor of the State Bank of Vietnam to perform the following tasks:

To urgently amend regulations on gasoline price operating time in Vietnam

The Prime Minister requested the Ministry of Industry and Trade to preside and coordinate with the Ministry of Finance and relevant agencies:

- Urgently review and propose amendments and supplements to regulations in Decree 95/2021/ND-CP and Decree 83/2014/ND-CP on petroleum business,  especially regulations on gasoline price management time; gasoline price stabilization fund; unifying the focal point for state management of petroleum businesses; standards, conditions, rights, and obligations of key traders, distributors, and other unreasonable regulations that need to be amended and supplemented; Ensure scientific, reasonable, feasible, effective, meeting the requirements of the practical situation and state management in this field.

- Continue to proactively follow market developments and legal regulations in the management and operation of petroleum products to soon overcome the above situation; ensure the supply of petroleum to serve production and people's lives in all situations.

- Continue to direct key petroleum trading enterprises and petroleum distribution enterprises to proactively coordinate and balance domestic production and imported sources to ensure the maintenance of a continuous supply of petroleum for the domestic market.

- Regularly inspect, supervise, promptly prevent, and strictly handle, in accordance with the law, acts of speculation, smuggling of petrol and oil across borders, and other violations in the petrol and oil business; At the same time, encourage and create conditions for businesses to maintain production and business activities, ensuring petroleum supply and national energy security.

To ensure maintenance of petroleum supply for the domestic market in all situations in Vietnam

Specifically, the Prime Minister requested the Ministry of Industry and Trade and the Ministry of Finance, according to their assigned functions and tasks, to urgently implement the directions of the Government Leaders on completing the National Reserve Development Strategy until 2030 and related documents; ensure the maintenance of petroleum supply for the domestic market in all situations; meet the production and daily needs of the people; and harmonize the interests of the state, people, and businesses.

More details can be found in Official Dispatch 1039/CD-TTg.

Diem My

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