NA deputy Tran Van Lam, a NA Finance and Budget Committee member, said it was necessary to review fuel supply and demand and carefully determine the management agencies’ responsibility in collecting information and restructuring supply chains.

NA deputy Hoang Van Cuong from Hanoi City attributed gasoline retail disruptions to inefficient governance mechanisms. Many gas stations have shut down due to rising losses resulting from a woefully low discount rate offered by wholesalers and high operating costs.

The weak collaboration between the Ministry of Industry and Trade, which is in charge of fuel export, import, supply, distribution and retail, and the Ministry of Finance, responsible for price and cost management, has led to the unprecedented fuel supply disruptions, Cuong said.

Lam also blamed the Ministry of Industry and Trade for its slow response to the issue, the local media reported.

Though other ministries and agencies are also involved in the management of fuel supply, Lam added, the Ministry of Industry and Trade bears the main responsibility.

As of November 1, 108 of 550 gas stations in HCMC, or nearly 20% of the total, had experienced lower-than-needed gasoline supply from wholesalers and general agents.

The shortage of gasoline is still a problem in the city, Bui Ta Hoang Vu, director of the municipal Department of Industry and Trade, told a meeting with the HCMC government on the October socioeconomic performance on November 1.

Apart from the 108 gas stations running short of stock, four other stations have asked for a suspension or closure for repair reasons.

A series of gas stations in the districts of Go Vap, 12, Tan Binh, Binh Tan, Binh Chanh, Hoc Mon and Cu Chi are running low on stock.

Source: Saigon Times