Proposal to use the Price Stabilization Fund to 'cool down' gasoline and diesel prices.

The Ministry of Industry and Trade and the Ministry of Finance are developing and submitting to the Prime Minister plans to stabilize prices, including the use of the Fuel Price Stabilization Fund.

The Ministry of Industry and Trade continued to provide information on measures to ensure supply and stabilize the domestic petroleum market on the night of March 9th. According to the Ministry of Industry and Trade, these measures aim to "cool down" gasoline and diesel prices. Following two "shocking" price increases influenced by military conflicts in the Middle East, this ministry is coordinating with the Ministry of Finance to develop and submit to the Government measures to stabilize prices, including the use of the Fuel Price Stabilization Fund.

Hotline for reporting gas stations that have stopped selling fuel or are selling fuel at prices different from the listed prices.

The Ministry of Industry and Trade and the Ministry of Finance have proposed using the Price Stabilization Fund to "cool down" gasoline and diesel prices (PHOTO: PHAN HAU).

The Ministry of Industry and Trade, in coordination with other ministries and agencies, reported to the Government on proposals to reduce environmental protection taxes and other measures to ensure the supply of petroleum products for the economy .

Over the past few days, the Ministry of Industry and Trade has developed plans and strategies to control the situation; directed and urged refineries and the entire petroleum supply chain nationwide, from primary distributors to retailers, to focus on finding new sources of petroleum and maintain production and business operations to ensure the supply of petroleum to the market.

However, the Ministry of Industry and Trade hopes that people and businesses will understand the difficulties, agree with the policy of managing the petroleum market, and avoid panic buying or hoarding that would cause localized imbalances in supply and demand.

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Businesses must absolutely not take advantage of the situation to speculate or hoard gasoline illegally; this behavior not only violates the law but also exacerbates the shortage and affects the community.

When discovering that gas stations have stopped selling fuel without reason, are selling at prices different from the listed price, or are showing signs of hoarding, people should proactively report it to the Ministry of Industry and Trade through the hotline of the Department of Domestic Market Management and Development 1900888655 or the local Market Management Sub-department for timely handling.

The Ministry of Industry and Trade also advises people and businesses to apply fuel-saving measures such as limiting the use of personal vehicles when unnecessary; prioritizing carpooling, using public transport or bicycles for short distances; and considering the use of electric vehicles, hybrid vehicles, or vehicles using E5 and E10 biofuels according to the roadmap from June 1st. Agencies and businesses are encouraged to work remotely whenever possible to reduce the need for travel and transportation.

The Fuel Price Stabilization Fund has a surplus of over 5,600 billion VND.

According to information from the Ministry of Industry and Trade, by the end of September, the fuel price stabilization fund of 27 major fuel distributors had a surplus of more than 5,617 billion VND.

The fuel price stabilization fund is a financial fund not included in the state budget, established by fuel distributors and used according to price regulations from the inter-ministerial committee of the Ministry of Industry and Trade and the Ministry of Finance, and held in the businesses' bank accounts.

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According to regulations, all funds allocated to and used from the Fuel Price Stabilization Fund are used to regulate and support the goal of stabilizing domestic fuel prices and are managed according to the regulations of the Ministry of Finance and the Ministry of Industry and Trade.

Throughout 2025 and from the beginning of 2026 until now, the Ministry of Industry and Trade - Ministry of Finance has not used this tool in weekly fuel price adjustments. Although since February 26th, fuel prices have been adjusted three times with very high increases. Comparing gasoline prices in the adjustments on March 5th and March 7th, the increase ranged from 3,777 to 4,707 VND/liter. Diesel prices increased from 3,831 to 8,490 VND/liter/kg.

Source: https://baotayninh.vn/de-xuat-chi-quy-binh-on-de-ha-nhiet-gia-xang-dau-141070.html