Deputy Minister of Industry and Trade Do Thang Hai
Speaking at the press conference, Deputy Minister of Industry and Trade Do Thang Hai said that although accounting for 30 percent-35 percent of the domestic market share, up to this point, Nghi Son Refinery and Petrochemical has not yet committed how much oil it will supply in the upcoming months.
Deputy Minister Do Thang Hai affirmed that the Government, which is directly the Ministry of Industry and Trade, will be responsible for ensuring enough petrol and oil sources for production and consumption needs. In the past 6 months and up to this point, the supply of petroleum to the market is still guaranteed.
Answering the question of why the price of gasoline in Vietnam is high, the Deputy Minister of Industry and Trade said that gasoline prices in Vietnam are only average compared to the world, ranking 85/170 countries and territories reported.
According to Deputy Minister Do Thang Hai, the upward or downward fluctuation of gasoline prices associates with the developments in the world market. The most crucial present matter is how to ensure enough supply for the next time.
In the coming time, priority must be given to domestic petroleum production, but producers must commit to how much output they will supply to the domestic market.
Vietnam will increase the national reserves of petroleum
Deputy Minister Do Thang Hai emphasized that without clear commitment, imports must be allowed to ensure sufficient supply, as was done in the second quarter of last year.
Facing the risk that world gasoline prices may still increase, according to many experts, it is necessary to urgently reserve gasoline. Therefore, the leader of the Ministry of Industry and Trade said that it is necessary to increase the national reserve level for petroleum.
Currently, Vietnam's national reserve includes state reserve, enterprise reserve, and production. Currently, state reserves of petroleum are considered lower in comparison to countries such as the US and Japan as it is only in the commercial enterprise sector.
Deputy Minister Do Thang Hai said that countries such as the US, Japan, and Australia all have enough reserves to ensure about 90 days, but Vietnam has not been able to do so. Currently, the National Assembly has issued a resolution on increasing the national reserve level, and the Ministry of Industry and Trade is implementing it.
At the press conference, Deputy Director of the Planning Department under the Ministry of Industry and Trade Nguyen Thuy Hien said that the project to increase the national reserve level for petroleum was built by the Ministry of Industry and Trade.
