Gasoline stations normally operated to serve the travel needs of people during Tet

Gasoline stations normally operated to serve the travel needs of people, and there was no situation of hoarding and overcharging.

In HCMC, four gas stations suspended operations to wait for dissolution procedures, and eight retail gas stations were out of petrol, so they are temporarily closed for the Tet holiday. In Hanoi, the authorities discovered that a petrol trading establishment in Ba Tha Street in Vien An Commune of Ung Hoa District listed retail gasoline prices not the same as the prescribed ones, so it was sanctioned VND7.5 million for administrative violations.

In Ha Nam Province, the Department of Market Surveillance No.2 fined Chien Duong Company in Dong Van Ward in Duy Tien Town VND15 million for reducing the opening time compared to the listing time without a good cause.

According to the assessment of the MoIT, the phenomenon of gas stations closing and temporarily suspending sales is only particular, and they were thoroughly handled by the authorities, not creating a chain effect that adversely affects petroleum supply and trade activities across the country. The Market Surveillance Agency continues strengthening the inspection and supervision of petroleum trading activities after the Tet holiday.

Closed, temporarily suspended gas stations merely particular phenomenon
A temporarily closed gasoline station in Ho Chi Minh City.

On January 27, the Ministry of Finance informed that it had sent a document to the Government Office to report on the market and price situations during the 2023 Lunar New Year. According to the MoF, the supply and demand situations and market prices were stable and under control. Fresh food prices only increased slightly compared to normal days.

“For petroleum products, after the Lunar New Year is the time when travel demand surges, the MoIT is requested to closely follow the actual situation to proactively take measures to ensure the supply of petroleum products, not to let a shortage of gasoline happen to the domestic market in all situations," the MoF suggested.

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