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Government cracks down on gasoline hoarding 13th June 2008
The
government will revoke the licenses of gas stations found hoarding fuel,
Deputy Minister of Industry and Trade Nguyen Cam Tu has warned. Last
Friday four stations in Ho Chi Minh City and 15 in the southern province
of Tien Giang stopped selling gas while many others in the north seemed
to close to hoard their stocks, Nguyen Hung Dung, head of the ministry’s
Market Management Department, told a press conference he addressed
jointly with the minister Tuesday.
The department has inspected gas stations around the country and would
shut down any found closing for a second time without legitimate cause,
he warned. Bui Ngoc Bao, general director of Petrolimex, admitted some
of his company’s stations in the northern provinces of Ha Tay and Hoa
Binh closed without justification since an investigation found they had
not run out of stock.
He said his company would handle them as instructed by the ministry and
would not supply stocks to retailers violating price regulations. Only a
handful out of around 10,000 stations in the country had “closed,”
however, he said. Domestic gas prices would not change at least until
the end of this month, he assured, advising consumers not to panic.
Petrolimex’s 2,000 gas stations and 3,500 retailers have enough stocks
to meet demand, he assured further.
Vo Van Quyen, deputy head of the ministry’s Domestic Market Policy
Department, also said gas wholesalers in the country have enough stocks
to last until the end of this month. Impending import contracts “will
secure enough stocks for all wholesalers, no matter how international
prices move,” he said.
Source: TNN
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