Gas stations get wind of price hike, stop sales

Before the Ministry of Finance hiked gasoline retail prices by up to VND2,800 per liter Tuesday, many gas stations had got wind of it and limited sales or even stayed shut, waiting for the hike.
On Monday many gas stations in Dong Thap Province’s Chau Thanh District sold just VND10,000 worth petrol to a customer, pleading a shortage.
In nearby Long An Province, they were limiting it to a more reasonable VND20,000 or VND30,000.
The Long An Market Management Unit No 2 discovered that many filling stations had opened without any salesman, forcing customers to leave empty-handed.
Other gas stations had resorted to demanding a premium -- many demanded VND20,000 per liter (retail price VND19,300), with TB in Tan Hung District even asking for VND21,000.
In border areas in Long An, people had to queue for hours at Petrolimex gas stations.
To resolve the problem, the Long An Province Department of Industry and Trade assigned four supervisory groups to border districts to stop gasoline smuggling to Cambodia where the prices are higher.
Deputy director of the Department, Nguyen Xuan Hong, said many complaints had been received and warned gas stations found to limit or stop operations will have their licenses canceled for good.
By afternoon of Monday the situation seemed to improve, with the Market Management Department not finding any gas station indulging in sharp practices.
Three petrol stations in Moc Hoa District, two each in Thanh Hoa and Tan Hung Districts, and one in Vinh Hung District closed claiming they had run out of stock. Inspectors found their claim to be true.
The Ministry of Finance cited rising gasoline prices due to instability in the Middle East and North Africa for the price hike.
Enough oil and gasoline to meet the market demand

The director general of the Vietnam National Petroleum Corporation, Bui Ngoc Bao, said there is no shortage of fuel and promised to provide enough diesel and gasoline.

Saigon Petrol too said it has adequate stocks. Moreover, every day its retailers have to sell 5 percent of the amount they registered for the month. This is meant to prevent hoarding.

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