Customers fill up at a petrol station in HCM City’s Thủ Đức City. City authorities have assured that there will be sufficient supply of oil and petrol products to meet local demand. — VNA/VNS Photo Hoàng Tuyết

HCM CITY — There is no illegal hoarding of oil and petrol at gas stations in the city, though the retail prices of oil and petrol have continued to rise, asserts Bùi Tá Hoàng Vũ, head of the HCM City Department of Industry and Trade.

He said the department has set up an inspection team to monitor business activities of 18 petroleum traders and distributors in the city.

The team, comprised of representatives from the municipal departments of Industry and Trade, Market Management and Police, has been directed to promptly stop any hoarding and punish violations.

On February 11, the inspectors conducted an unscheduled inspection of local gas stations, but no hoarding was detected.      

Of the 548 petrol stations in the city, all but two are operating normally. One of the two stations closed temporarily because of the COVID-19 related death of its owner, while the other is repairing its fire prevention system.

“The city is the country’s largest consumer and petrol prices have been on the rise in recent months, but we will be able to ensure sufficient supply of oil and petrol at stable prices to meet local demand,” Vũ said.

The supply situation is expected to improve when imported petrol and oil products arrive in the next few days, he added.

He also said that the inspection team will continue to carry out its work in the coming days.

The ministries of Finance and Industry and Trade have made three adjustments to stabilise petrol prices this month.

It has been reported that some petrol stations have intentionally limited their sales, waiting for an increase in retail prices.

City authorities have asked local oil and petrol distributors and retailers to ensure sufficient supply to meet local demand, and prevent hoarding of these essential items during the COVID-19 pandemic.

Businesses have been asked not to sell oil and petrol to customers looking to hoard them in containers, and to ensure that their staff strictly follow directives on pandemic prevention and control measures. — VNS