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HCMC proposes establishing fuel market monitoring team

HCMC – The HCMC Department of Industry and Trade has written to the city government proposing setting up a team in charge of tackling issues with fuel supply in the city.

The team will be responsible for monitoring the fuel market, proposing solutions to tackle shortcomings in the fuel supply chain and speeding up the handling of fuel trading bottlenecks.

According to the proposal, a vice chairman of the city would lead the team while the director or deputy director of the Department of Industry and Trade will be the deputy team leader.

Members of the team include representatives of the Departments of Tax, Customs, Public Security, Market Surveillance, Transport, Finance, and Natural Resources and Environment and the HCMC branch of the State Bank of Vietnam.

According to the Department of Industry and Trade, world fuel market votatility has strongly affected fuel supply and distribution in the city.

As of 5 p.m. on November 1, 111 of 555 gas stations in HCMC had run low on stock due to limited supplies from wholesalers and general agents.

Some gas stations only sell VND20,000 to VND50,000 worth of gasoline to each motorcycle and VND200,000 to VND300,000 to each auto at a time.

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