HCM City has said there is enough petroleum products supply to comfortably meet demand following reports some petrol stations purportedly ran out of stock. — VNS Photo Văn Châu

HCM CITY — The HCM City Department of Industry and Trade has assured there is an adequate supply of petroleum products to meet demand and it will prevent any hoarding of these goods.

In recent days many petrol stations in the city and neighbouring provinces have claimed they do not have stocks, but deputy chairman of the Việt Nam Petroleum Association, Trịnh Quang Thanh, too confirmed there is no shortage of supply.

The output at the Dung Quất and Nghi Sơn oil refineries in the second quarter is expected to be around 3.03 million tonnes, 200,000 tonnes higher than in the first quarter and comfortably enough to meet the country’s demand.

Director of the Ministry of Industry and Trade’s Domestic Market Department, Trần Duy Đông, had asked province trade departments to closely monitor retail petroleum products sales to ensure there is adequate supply.

To ensure strict implementation of regulations governing the oil business, the ministry has instructed the General Department of Market Surveillance to keep a closer eye on oil trading companies and their retail systems.

It has promised strict action against traders caught violating the regulations.

The city trade department has called on petroleum products distributors and retailers to ensure sufficient supply to meet local demand.

It warned them not to sell to customers who use containers to hoard oil products.

The Police Department of Fire Prevention, Fighting and Rescue and district police have been instructed to warn locals against hoarding oil products due to fire hazard, and to carry out regular inspections to enforce this.

The city Market Surveillance team will monitor oil and petrol businesses to prevent trade fraud, distribution of low-quality products, hoarding of goods and other fraudulent activities.

There are 545 petrol stations in the city that sell 200,000cu.m of oil products per month.  VNS