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The Vietnam Oil and Gas Group proposed to the Ministry of Industry and Commerce and the Ministry of Finance to consider restricting / banning the import of gasoline and petroleum products in the period when the Covid-19 epidemic has not yet been brought under control.
According to PVN, due to the current sharp drop in crude oil prices and the Covid-19 epidemic, which has been occurring in a very complicated way, the direct and strong impact on all economic life has caused the production of oil and commercial activities. PVN continues to face many difficulties.
In the first quarter of 2020, total demand for oil consumption is estimated to decline by approximately 30% and is expected to continue to decline when the entire tourism, service and transportation market freezes. Inventories of petroleum products at Dung Quat and Nghi Son refineries are always high, especially gasoline products. At some point, gasoline inventories are above 90%.
“PVN’s Dung Quat refineries are under pressure both inbound (lower inventory prices) and outbound (customers cancel and relax due to low demand),” PVN worries.
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| Domestic gasoline is in serious condition. |
Referring to the General Customs Department, PVN is concerned that the total import of oil in the first 2 months of 2020 is 1,356 million tons.
Compared to the total production volume of 2.16 million tons from the Nghi Son (1.15 million tons) and Dung Quat (1.01 million tons) oil refinery, the import amount represented 39% of total demand. domestic demand
Therefore, PVN believes that the large volume of imports actually hinders the consumption of petroleum products produced in the country.
Therefore, PVN urgently requested the Ministry of Industry and Commerce and the Ministry of Finance to consider issuing policies to minimize / prohibit the import of petroleum products in the period when control of Covid disease and the Market has not yet been controlled. The domestic oil consumption market is very difficult.
At the same time, continue to take measures to strictly control the quality of gasoline circulating in the market, strengthen measures to prevent commercial fraud and gasoline spills.
Previously, on March 11, 2020, the Ministry of Industry and Commerce issued Official Letter No. 1730 / BCT-TTTN to oil and petroleum import and export merchants, who asked them to adjust the import plans. adequate gasoline, which restricts the importation of gasoline and oil from foreign countries, giving priority to the use of oil sources from national petrochemical refineries.
Luong Bang
Buy gasoline at VND 12,600 / liter and pay VND 8,600 of taxes and profits
Total taxes, fees and non-taxes, including profits per liter of RON 95 III gasoline, is approximately VND 8,600 / liter over the sale price of VND 12,560 / liter, representing approximately 68% of the retail price.
