Minister Nguyen Hong Dien: Petroleum supply has been maintained quite stable in the first 6 months of the year.
On June 25, the Ministry of Industry and Trade held a 6-month review conference on the situation of petroleum supply to the market and directions and tasks for the last 6 months of 2025. Minister Nguyen Hong Dien chaired the conference.
Speaking at the conference, Minister of Industry and Trade Nguyen Hong Dien emphasized that in the first 6 months of the year, the world political and economic situation continued to have complex and unpredictable developments; domestically, the economy also had quite good growth, leading to a high demand for energy in general, including gasoline and oil. However, under the close direction of the Government, the Prime Minister, and ministries and branches, the supply of gasoline and oil has been maintained quite stable.
"In addition, domestic gasoline prices basically follow the price movements of the world market. What happened in the first 6 months of the year shows that we are on the right track and have good access to the market. Domestic prices are gradually approaching the world market," the Minister acknowledged.
The Minister said that in the last 6 months of the year, there will be many factors affecting the management of gasoline supply for the economy.
In that context, the Minister clearly stated 3 general goals for the last 6 months of the year and the following year, which are: Ensuring sufficient supply of gasoline for the domestic market in all situations; Maintaining a stable price level, closely following world gasoline prices; Stability in the system and harmonization of interests. These three general goals have been clearly defined in the 6th draft of the Decree amending the Decrees on gasoline trading.
Regarding the specific tasks and solutions to ensure the supply of gasoline and oil as per the above targets, Minister Nguyen Hong Dien assigned the Department of Domestic Market Development Management to continue reviewing and adjusting the plan for allocating minimum output to key traders and to monitor, inspect and supervise the operation of this system. The Minister requested to review, re-evaluate and implement this seriously. Enterprises that fully and correctly implement the allocation plan will be communicated, while enterprises that do not implement will have their allocation reduced and in the next period, if they continue to fail to implement, they will be reviewed to consider revoking their licenses.
The Minister also requested the Department of Oil, Gas and Coal to coordinate with the relevant agencies of the Ministry and the Ministry of Finance to direct and supervise the operations of the two refineries Nghi Son and Binh Son, ensuring that production targets are met and exceeded. The Minister emphasized that, regardless of the circumstances, these two plants must operate at and above their design capacity; at the same time, research should be conducted to aim at blending the bio-fuel ratio to meet standards from the beginning.
The Department of Innovation, Green Transformation and Industrial Promotion focuses on researching and proposing amendments to Decision No. 53/2012/QD-TTg of the Prime Minister on promulgating a roadmap for applying the blending ratio of biofuels with traditional fuels (striving to complete in June, early July 2025). In addition, focusing on supporting digital transformation and green transformation in the petroleum business ecosystem, monitoring the activities of this system, ensuring environmental standards.
The Department of Financial Planning and Enterprise Management shall preside over and coordinate with relevant units inside and outside the Ministry to urgently deploy the Plan for implementing the National Petroleum and Gas Reserve and Supply Infrastructure Plan, and coordinate to prevent tax losses through electronic invoices.
The 6-month review conference on the situation of petroleum supply to the market and the direction and tasks for the last 6 months of 2025, took place on June 26 at the headquarters of the Ministry of Industry and Trade.
E10 gasoline business trial expected in Ho Chi Minh City from August 1
At the conference, Mr. Tran Ngoc Nam, Deputy General Director of Vietnam National Petroleum Group (Petrolimex) shared that in the current context, Petrolimex also commented that energy consumption nationwide in the last 6 months of the year will not grow much compared to 2024. Even in the first days of June, despite the impact of geopolitics, the supply in the market is still basically under control.
Regarding price management, under the observation of key traders, the price management work in the first 6 months of the year by the joint ministries was better implemented than in the previous period. The announcement of price adjustment time was earlier and more stable, helping petroleum traders have time to proactively carry out their work, not being passive in waiting; closely following the fluctuations of world petroleum prices. The world price did not fluctuate much, which is also the reason why the Petroleum Price Stabilization Fund has not been used.
At the Conference, Mr. Nam also proposed that when the market fluctuates, the most important thing is inspection and control, so that the available goods can be brought to the market. At the same time, he proposed that the Government soon issue a new Decree on petroleum trading, so that businesses can organize and implement it based on new ideas.
Petrolimex leaders also expressed their strong support for the organization of biofuel business, and said that on August 1, Petrolimex is expected to test E10 gasoline business in the Ho Chi Minh City market to assess the technical impact and meet customer needs.
Previously, reporting on the situation of gasoline supply in the first 6 months of the year, Ms. Nguyen Thuy Hien, Deputy Director of the Department of Domestic Market Management and Development, said that the gasoline market in the first 6 months of 2025 was basically stable, domestic gasoline prices were managed closely following world gasoline prices, and supply was abundant, meeting enough goods for production, business and consumption.
The total source of gasoline and oil for domestic market consumption in the first 6 months of 2025, as reported by traders, is estimated at 13.86 million m3/ton, equal to 47% of the total minimum source of gasoline and oil allocated from the beginning of 2025, an increase of 1.1% compared to the total source implementation in the first 6 months of 2024 (equivalent to implementing 2.308 million m3/ton of gasoline and oil/month), basically following the plan to implement the total source for each quarter registered with the Ministry of Industry and Trade.
Regarding gasoline prices, as of the adjustment period of June 12, 2025, the prices of gasoline products have undergone 24 price adjustments. Compared to the beginning of 2025, the prices of most gasoline products have decreased by 2.97% to 7.02%, equivalent to a decrease of 595-1,323 VND/liter of gasoline and oil depending on the type (except for fuel oil, which increased by 2.25%). Domestic gasoline prices in the first 6 months of 2025 closely followed world gasoline prices and remained at a much lower level than at the beginning of the year and compared to the same period in 2024, contributing to reducing input costs for production and business, supporting the goal of controlling inflation.
Anh Tho
Source: https://baochinhphu.vn/duy-tri-mat-bang-gia-on-dinh-bam-sat-gia-xang-dau-the-gioi-102250626072222933.htm
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