Series of solutions to ensure gasoline supply in the last 6 months of the year

Photo caption — Buying and selling gasoline at the new price at the Petrolimex petrol station on Tran Hung Dao Street, Hoan Kiem District, Hanoi. Photo: Le Dong/VNA

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 ( Ministry of Industry and Trade ) said: With the close direction of the Government, the Prime Minister, and the Ministry of Industry and Trade, the gasoline market in the first 6 months of 2025 was basically stable, domestic gasoline prices were managed closely following world gasoline prices, with abundant supply, meeting enough goods, serving production, business and consumption.

The total minimum source of petroleum in 2025 assigned by the Ministry of Industry and Trade to the main petroleum traders is 29,517,404 m3/ton of petroleum of all kinds. Regarding the implementation of the total minimum source of petroleum, imports in the first 6 months of 2025 are estimated at 4.8 million tons of petroleum of all kinds (equivalent to 5.76 million m3 tons of petroleum of all kinds). Regarding production, it is estimated at 7.83 million tons of petroleum of all kinds (equivalent to 9.396 million m3 tons of petroleum of all kinds).

The total source of gasoline and oil for domestic market consumption as reported by traders is estimated at 13.86 million m3 tons, 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 tons 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.

Domestic gasoline prices in the first 6 months of 2025 closely followed world gasoline prices and remained much lower 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.

Regarding the plan for the last 6 months of the year, it is expected to import 5.1 million tons of all kinds of gasoline and oil (equivalent to 6.12 million m3 tons of all kinds of gasoline and oil); production will reach 7.7 million tons of all kinds of gasoline and oil (equivalent to 9.24 million m3 tons of all kinds of gasoline and oil). Domestic consumption will reach 7.4 million tons (equivalent to 8.8 million m3 tons of all kinds of gasoline and oil). Export 220 thousand m3 tons...

Sharing more about the issue of gasoline supply, on the side of the manufacturing enterprise, Mr. Nguyen Viet Thang - General Director of Binh Son Refining and Petrochemical Joint Stock Company (BSR) said that in the first 6 months of 2025, the average capacity of the factory reached 114.4% compared to the design capacity. It is estimated that by the end of June, it will reach 4.41 million m3 of gasoline, equivalent to 56% of the registered plan for 2025, exceeding 6%, equivalent to 500,000 m3 compared to the plan for the first half of the year.

In the last 6 months of the year, the factory's capacity is expected to be equivalent to the first 6 months of the year, reaching about 114-115% of the design capacity. It is estimated that the last 6 months of the year will reach 8.8 million m3 of gasoline and oil, ensuring a stable source for the factory.

"For production sources, the company is using 65-70% domestic and 30-35% imported sources. The imported sources are from Libya and West Africa, so they are not affected by geopolitical tensions in the Middle East, ensuring production sources for the factory. In the past 6 months, the company has purchased enough crude oil until the end of August with a capacity of 114-115% of the design capacity and 70% of the supply until the end of the year, ensuring energy security for the factory," Mr. Nguyen Viet Thang informed, and also said that BSR's biofuel and blending system ensure sufficient supply of E5 gasoline. As for the E10 source, the tanks are being renovated for blending.

Mr. Tran Ngoc Nam - Deputy General Director of Vietnam National Petroleum Group (Petrolimex) shared: 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 in the first 6 months of the year by the joint ministries was implemented better than in the previous period. The announcement of price adjustment time earlier and more stably helped petroleum traders have time to proactively carry out their work. They were not passive in waiting. In addition, they closely followed the fluctuations of world petroleum. The world price did not fluctuate much, which is also the reason why the Petroleum Price Stabilization Fund has not been used.

According to Mr. Tran Ngoc Nam, it is expected that on August 1, Petrolimex will test E10 gasoline trading in the Ho Chi Minh City market to assess the technical impact and meet customer needs. Petrolimex will also have a written report to the Ministry to grasp the company's implementation plan. According to the plan, in the last 6 months of the year, the company will consume 650 thousand m3, the whole year will reach 104-105% of the plan.

Concluding the meeting, Minister of Industry and Trade Nguyen Hong Dien emphasized that although the world political and economic situation continued to have complex and unpredictable developments in the first 6 months of the year, under the very close direction of the Government, the Prime Minister, and ministries and branches, the supply of gasoline and oil in the first 6 months of the year was maintained quite stable, and the plan relatively met requirements.

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 it is going in the right direction and approaching the market well. Domestic prices are gradually approaching the world market. At the same time, the segment in the gasoline distribution system operates relatively stably, basically without major incidents, from the main enterprises, distributors to retail stores.

However, in the last 6 months of the year, there will be many factors affecting the management of petroleum supply for the economy, due to strategic competition, trade war, armed conflict, especially in the Middle East; border conflicts in Thailand and Cambodia also affect the supply to the market, so the demand for petroleum for the Lao and Cambodian markets is forecast to increase.

Furthermore, domestic demand is forecast to increase due to the need to accelerate to achieve the target of an average gross domestic product (GDP) growth of 8% or more this year. Along with that, in the trend of attracting increased foreign direct investment (FDI), the demand for gasoline will be greater.

In that context, the Minister stated three general goals for the last six months of the year and the following year: ensuring sufficient supply of gasoline for the domestic market in all situations; maintaining a stable price level, closely following world gasoline prices; system stability and harmonization of interests.
Minister Nguyen Hong Dien assigned the Department of Domestic Market Development Management to focus on researching, reviewing, evaluating and proposing amendments and supplements to the State's mechanisms and policies in this field, together with ministries and branches to adjust regulations; review standards, criteria and conditions for petroleum business to soon put into practice.

In addition, continue to review and adjust the plan for allocating minimum output to key traders and must monitor, inspect and supervise the operation of the system. The Minister suggested reviewing, re-evaluating and implementing this seriously. Any enterprise that fully and correctly implements the communication allocation plan, any enterprise that does not implement will have its allocation reduced and at the end of the period, if it continues to fail to implement, it will be reviewed to consider revoking its license.

At the same time, coordinate with functional units of the Ministry and related ministries and branches to manage reasonable prices; strengthen coordination with local Departments of Industry and Trade to direct, guide and supervise the activities of local Market Management Departments in inspecting and supervising the activities of petroleum trading enterprises.

In particular, preside over and coordinate with the functional units of the Ministry, especially the Department of Innovation, Green Transformation and Industrial Promotion to advise on the issuance of a roadmap for the use of E10 gasoline (expected from January 1, 2026). Urgently submit a Proposal to the Government for approval of the Summary Report on the implementation of Decision No. 53/2012/QD-TTg of the Prime Minister on the issuance of a roadmap for the application of the blending ratio of biofuels with traditional fuels to have a basis for proposing a new roadmap.

The Minister assigned the Department of Petroleum and Coal to coordinate with the Ministry's functional agencies and the Ministry of Finance to direct and supervise the operations of the Nghi Son and Binh Son oil refineries, ensuring that production targets are met and exceeded. At the same time, he emphasized that, regardless of the circumstances, these two plants must operate at and above their design capacity; research to aim at blending bio-fuel at the right ratio from the beginning.

Furthermore, actively coordinate with the Department of Domestic Market Management and Development to strengthen inspection and supervision of the implementation of contracts signed with key enterprises and distributors to ensure sufficient supply to the market. Actively coordinate with functional units inside and outside the Ministry to study and propose appropriate and feasible mechanisms and policies in the areas under its authority.

The Minister requested the Department of Innovation, Green Transformation and Industrial Promotion to focus 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, focus on supporting digital transformation and green transformation in the petroleum business ecosystem, monitoring the operation of this system, and ensuring environmental standards.

The Minister also assigned the Department of Financial Planning and Enterprise Management to preside over and coordinate with relevant agencies inside and outside the Ministry to urgently deploy the Plan to implement the National Petroleum and Gas Reserve and Supply Infrastructure Plan, and coordinate to prevent tax losses through electronic invoices.

Regarding relevant ministries and branches, Minister Nguyen Hong Dien requested the Ministry of Finance to promptly direct, update, review and adjust actual costs arising in the basic price structure of petroleum products (according to the current mechanism); continue to coordinate with the Ministry of Industry and Trade in managing and operating petroleum prices according to current regulations. On the other hand, direct the Vietnam National Energy Industry Group, Petrolimex and Nghi Son and Binh Son oil refineries to operate according to plan, ensuring adequate supply, price stability, safety and system.

The Minister also requested the State Bank to continue to support and facilitate key enterprises and distributors to access capital sources conveniently with appropriate interest rates to operate stably in all situations of petroleum business. Regarding the issue of petroleum reserves, the Minister also assigned the Department of Domestic Market Development Management and the Department of Planning, Finance and Enterprise Management to proactively work with the Credit Department of the State Bank to clarify the mechanism, submit to the leaders of the two sectors to consider the reserve petroleum products as collateral for loans, to facilitate key enterprises to maintain their petroleum reserves in accordance with regulations. At the same time, the State Bank was requested to coordinate with the Ministry of Industry and Trade and relevant ministries and sectors to manage and supervise the use of the Petroleum Price Stabilization Fund.

The Minister also requested other ministries and branches, according to their functions and tasks, to coordinate with the Ministry of Industry and Trade and the Ministry of Finance in proposing management mechanisms and policies in this field; coordinate in managing the fight against smuggling, trade fraud, counterfeit goods, and poor quality goods.

Minister Nguyen Hong Dien suggested that the Business Association and the Petroleum Association actively participate in policy criticism, first of all with the new Decree on petroleum trading, then with related policy mechanisms. On the other hand, perform well the function of regulating and coordinating activities to protect the legitimate rights and interests of the petroleum trading ecosystem, from key enterprises, distributors to retail stores. In particular, coordinate with the Ministry of Industry and Trade and relevant ministries and branches in supporting the supervision of the activities of enterprises in the petroleum trading system, ensuring compliance with State regulations.

For key enterprises and distributors, the Minister noted that it is necessary to continue to thoroughly grasp and strictly implement the direction of the Prime Minister and the Ministry of Industry and Trade, relevant ministries and branches on petroleum trading. At the same time, properly and fully implement the plan for allocating annual, quarterly and monthly output and other mandatory regulations from warehouses, ports, laboratories, means of transport, mandatory reserves, setting up and spending the Petroleum Stabilization Fund, electronic invoices, etc. At the same time, establish and maintain a stable and effective business system, actively contributing to the prevention and combat of smuggling and trade fraud.

For the People's Committees of provinces and cities, it is necessary to focus on reviewing and adjusting the petroleum business network in the Provincial Planning to be consistent with the National Sector Planning, Regional Planning, etc., and rectify the licensing and management of petroleum business activities in the area. In addition, direct and coordinate with functional forces to effectively manage and supervise petroleum business activities, combat counterfeit, fake, and poor-quality goods, etc.; proactively work with the Ministry of Industry and Trade, ministries, and branches in researching and proposing management mechanisms and policies in the petroleum business sector in general. In particular, the Minister also proposed that from this month, a communication campaign will be launched to raise awareness and support the transition to using E10 gasoline to begin implementation from January 1, 2026.

Source: https://doanhnghiepvn.vn/kinh-te/loat-giai-phap-dam-bao-cung-ung-xang-dau-6-thang-cuoi-nam/20250626122654816