Vietnam needs to seek funds to increase the national reserve of petroleum to deal with urgent situations in the context of fluctuating global markets.

The Economic Committee of the National Assembly yesterday held an explanation session on the fuel market and the state management in this aspect.

Filling stations must sell gasoline at ceiling prices set by the Ministry of Industry and Trade (MOIT), though they are incurring big losses.

The Ministry of Industry and Trade (MOIT) has issued a series of decisions on revoking certificates for petrol distributors.

Hundreds of fuel companies have written to the prime minister saying the current regulations are putting a strain on their operations.