Ministry of Industry and Trade requires distributors to import more gasoline to solve the shortage

The Ministry of Industry and Trade of Vietnam has instructed 10 gasoline distributors to import 840,000 cubic meters of gasoline and 1.56 million cubic meters of diesel to overcome weeks-long shortages.

Ministry of Industry and Trade requires distributors to import more gasoline to solve the shortage

This is in addition to the extra 850,000 cubic meters of gasoline and diesel distributors imported in the last four weeks to increase supply after the Nghi Son Refinery (in Thanh Hoa province) cut output sharply due to ongoing liquidity issues.

The 200,000 barrel-per-day refinery is currently operating at 55-60 percent of capacity. It typically meets a third of Vietnam’s needs, according to Reuters.

Petrolimex will import over one million cubic meters and PVOil, nearly 489,000.

Ministry of Industry and Trade requires distributors to import more gasoline to solve the shortagePetrol and Gas Depot PVOIL Nghi Son, Nghi Son Town, Thanh Hoa Province

Retail gasoline prices reached a new peak earlier this week after having increased by 12.8 percent this year.

As gasoline stations in the south continued to report shortages, the government on Wednesday said it would auction 102 million tons of RON 92 gasoline from the national reserves this month.

Vietnam imported 803,000 cubic meters of petroleum products in the first half of February, a significant jump from an average monthly amount of 500,000 cubic meters, government data showed.

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