Quảng Ninh announces plans to maintain fuel supplies

November 15, 2022 - 14:42
With a large volume of purchased fuels far exceeding local demand of about 300,000 cbm, the move should maintain supply until the year's end.
A petrol station in Hạ Long City, Quảng Ninh Province. The province has plans to stabilise supply as the year's end draws near. — VNA/VNS Photo

HÀ NỘI — Quảng Ninh Province has announced plans to purchase more fuels to keep supply abundant in the province.

Local fuel firms are expected to purchase an additional 996,000cu.m of fuel to replenish their reserves, which currently stand at 195,000cu.m.

With a large volume of purchased fuels far exceeding local demand of about 300,000cu.m, the move would help maintain supply until the year's end.

The provincial Department of Industry and Trade said the province can meet local needs as it has five wholesalers, eight distributors, 114 retailers and 223 stations on the supply side.

Remarkably, none of the suppliers have fallen foul of administrative regulations on fuel supply so far.

Fuel prices in the province have recently fluctuated widely due to a broad-based tight fuel supply. As a result, some petrol stations had to temporarily cease their operation because of running low on fuel.

The situation is not better for suppliers in the eastern region, who could not gather enough oil to cater for the construction of traffic projects. Constructors have had difficulty gathering oil to run their excavators and bulldozers on site.

Petrol stations said they had taken measures to distribute fuels more efficiently between consumers and producers as they can only come up with up to 1,000cu.m of fuel per purchase.

The provincial Department of Industry and Trade urged the provincial Market Surveillance Agency to keep a close watch on local suppliers and impose heavy fines on those who violate regulations on fuel supply to ensure market stability.

The department also urged local suppliers to maintain fuel sales to prevent supply disruptions and develop detailed supply plans not to be caught off guard by future volatility.

If issues fall beyond suppliers' capacities, they should report the issues to the department, which would report them to the People's Committee for resolution. — VNS