Gasoline prices drop sharply, many businesses complain of heavy losses

At the meeting on the implementation of total petroleum resources and solutions to ensure petroleum supply at the end of the year organized by the Ministry of Industry and Trade, a number of petroleum traders proposed reducing petroleum imports compared to the total resources allocated for the whole year.

According to the explanation of the enterprises, currently, the demand of the people will basically not have a sudden growth. Meanwhile, many enterprises suffered damage after the storm, some suffered losses due to the sharp decrease in gasoline prices in recent months. Besides, the amount of reserves of enterprises must be guaranteed for 20 days, so balancing is difficult.

Regarding this, Mr. Phan Van Chinh - Director of the Domestic Market Department (Ministry of Industry and Trade) said that from now until the end of the year, the petroleum market situation will have very complicated developments. Besides, the weather situation will also have unpredictable developments, storms and floods may occur.

Therefore, the Ministry of Industry and Trade will carefully consider the issue of requesting to adjust the total allocated resources of enterprises.

"The Ministry of Industry and Trade will seriously accept and carefully study the proposals of enterprises so that in any context, we can still achieve the highest goal of ensuring sufficient supply of gasoline for domestic use," Mr. Phan Van Chinh emphasized.

Total estimated gasoline consumption in the last 4 months of the year is more than 8 million m3/ton. Photo: Hai Nguyen

According to reports from petroleum traders, total imports and domestic purchases in the first 8 months reached 18.16 million m3/ton of petroleum of all kinds. The whole country consumed about 18 million m3/ton (average consumption of about 2.25 million m3/ton/month of petroleum of all kinds), an increase of 4% over the same period in 2023.

Inventory is about 1.95 million m3/ton equivalent to the first 8 months of 2023, an increase of about 8% over the same period in 2023.

In 8 months, the number of traders implementing the total source was 34 traders, a decrease of 2 traders compared to the beginning of the year (one trader had its certificate revoked and one trader's certificate expired). 22/34 traders achieved over 60% of the year's allocation plan.

Ms. Nguyen Thuy Hien - Deputy Director of the Domestic Market Department said that in the last 4 months of the year, production and import are expected to reach about 10.2 million m3/ton of all kinds of gasoline and oil. Estimated consumption is about more than 8 million m3/ton (average more than 2 million m3/ton/month), inventory is 1.8-2 million tons. If there are no unexpected factors, the supply of gasoline and oil will meet the requirements for production, business and consumption of the people.

Source: https://laodong.vn/kinh-doanh/gia-xang-dau-giam-manh-nhieu-doanh-nghiep-keu-lo-nang-1396497.ldo