E5 fuel makes up 65% of petrol sales
E5 fuel makes up 65% of petrol sales
The number of local consumers using E5 petrol in their autos has been increasing rapidly, though bio-fuel has only been put into use nationwide for just the past month.
Deputy Minister of Industry and Trade Do Thang Hai said, during a regular Government meeting last week, that the use of the fuel in several cities and provinces had tripled compared to last year.
The total amount of E5 sold in some cities and provinces currently accounted for up to 80 per cent of their total petrol sales, Hai said, adding that the average rate nationwide was some 60-65 per cent of petrol sales.
“I believe that the use of E5 fuel will continue rising as awareness about the fuel by local consumers improves and they feel more familiar with it,” Hai said, adding that besides raising consumers’ awareness about the fuel, it was necessary to improve its management to ensure the quality of the fuel and prevent fraud.
According to PetroVietnam Oil Corporation (PV Oil), the sale of E5 at its stations reached 600-650 cu.m per day, increasing 2.5 times against last year and accounting for 70 per cent of its total petrol sales.
All of its stations have replaced RON 92 with E5 bio-fuel since the beginning of the year.
The corporation has 11 E5 mixing stations and is investing in other such facilities. This has ensured stable supplies of E5 in its retail network of 540 petrol fuel stations and more than 3,000 agencies.
According to a Prime Minister’s decision, E5 fuel, which is a mix of A92 petrol (95 per cent) and bio-fuel ethanol (5 per cent), has been officially sold nationwide to replace RON 92 since January 1, this year.
However, some motorbike owners are still unsure if the new E5 fuel being sold nationwide suits their vehicles. They therefore have opted not to buy the cheaper E5 fuel, but rather the more expensive A95 petrol. Currently, E5 is priced at some VND18,670 per liter, compared with VND20,850 of A95 petrol.
To encourage people to use E5, the Department of Industry and Trade in HCM City said it would cooperate with the Ministry of Information and Communications, as well as the media, to improve awareness about E5.
The trade ministry has also asked departments of industry and trade to step up supervision of petrol traders, distributors, wholesalers and petrol stations to prevent trade frauds and protect consumers’ rights.
