The Government Office has just issued Official Dispatch No. 5124 conveying the direction of Deputy Prime Minister Le Minh Khai on studying information, press reports and recommendations on the establishment of a petroleum trading floor.

According to the Government Office, some press agencies published the opinions of experts that, in order to be transparent and ensure harmony of interests among businesses, it is necessary to consider applying the model of a gasoline trading floor.

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Deputy Prime Minister requests research into establishing a petrol exchange. Photo: Chi Hung

Experts believe that the establishment of a petroleum trading floor can bring many benefits to Vietnam. When the petroleum trading floor is put into operation, information on prices and transaction volumes will be made public, thereby minimizing the possibility of price manipulation, creating a flexible and fast pricing mechanism and improving the process of distributing and circulating petroleum.

Furthermore, the new Decree allows a retail business to purchase goods from multiple sources, which creates the premise for setting up a trading floor.

From there, Deputy Prime Minister Le Minh Khai gave the following instructions: Assign the Ministry of Industry and Trade to preside over and coordinate with relevant ministries and agencies to review and study information, press reports and recommendations on the establishment of a petroleum trading floor.

The purpose is to increase publicity and transparency, and overcome the recent instability of the petroleum market. On that basis, there will be appropriate implementation solutions according to authority and legal regulations; in case of exceeding authority, a report will be made to the Prime Minister this July.

Today's gasoline price 7/19/2024 is on a downward trend . Today's gasoline price 7/19/2024 on the international market is on a downward trend. In the domestic market, gasoline prices have been adjusted down since yesterday afternoon.