121 HCMC gas stations run out of fuel

Created 11 October 2022
  • PDF
Editor Choice
(0 votes, average 0 out of 5)

121 gas stations in HCMC, or 20% of the city's fuel retailers, were without fuel Monday because wholesalers couldn't replenish their inventory on time.
121 HCMC gas stations run out of fuel

Many of the stations without gas are located in suburban areas, including Binh Chanh District (8), Binh Tan District (15) and Thu Duc City (21).

Most of the without any fuel in stock are moderate in size and small in scope, the HCMC Market Surveillance Department said Monday.

Meanwhile, many petroleum product suppliers have said that with retail prices falling, the more they import to sell, the more they lose.

Vu Hong Thanh, chairman of the National Assembly's Economic Committee, said during the parliament’s Standing Committee meeting Monday that some gas stations were only allowing consumers to fill their tanks with VND50,000 ($2.09) worth of fuel.

Retailers say the falling government-fixed retail prices force them to sell at a loss. They also say that they are losing VND100-300 million ($4,166-12,500) in the case of small gas stations and VND500 million at big ones due to low commissions, and might have to close for good if things do not improve this week.

Not just HCMC, the Ministry of Industry and Trade said Monday that gas stations in several southern provinces of An Giang, Dong Thap, Binh Duong and others, are also running out of fuel.

Some suppliers said importing has become difficult, while others said the recent Storm Noru has affected transportation.

Gasoline imports declined by 40% in the third quarter from the previous one, while diesel imports fell by 35%.

A quick study by VnExpress also found the situation was worsening with the number of gas stations out of stock continuing to rise as of Monday evening.

Three petrol stations within a one-kilometer radius on Nguyen Oanh Street, Go Vap District, remained shut.

Gas stations in districts 12, Binh Chanh, and Tan Binh have also run out of fuel and have yet to reopen.

Recently 36 retailers in HCMC complained about of fuel retail prices by the Ministry of Industry and Trade and the Ministry of Finance, saying they were kept so low that the businesses were losing money on every liter of gasoline sold.

Source: VNE

Maybe You Also Interesting :

» Vietnam defense expo showcases modern weaponry

Numerous types of missiles, jets, tanks and guns are exhibited at the Vietnam International Defense Expo 2022 at Hanoi's Gia Lam Airport, which opened...

» Three men jailed for smuggling 198 million liters of gasoline worth $109M

Three people in southern Dong Nai Province were sentenced to prison Thursday for smuggling over 198 million liters of gasoline, worth nearly VND2.6 trillion...

» Two-thirds of blue chips close in green

Vietnam’s benchmark VN-Index rose 0.91% to 1050.53 points Thursday with 20 out of 30 blue chips in the green.