HCM City tightens control over fuel retail amid market volatility

HCM City tightens control over fuel retail amid market volatility

HCM City’s authorities have stepped up inspections and regulatory measures to stabilise the domestic fuel market as global oil prices fluctuate sharply due to escalating tensions in the Middle East.

Customers purchase fuel at a Petrolimex station in HCM City. VNA/VNS Photo

According to the city’s Market Surveillance Sub-Department under the Department of Industry and Trade, rising fuel prices have triggered a surge in consumer demand.

In some suburban areas, this has led to temporary supply shortages, with several petrol stations reportedly running out of stock.

Others have been found selling fuel in limited quantities, raising concerns over possible hoarding and speculative practices.

In response, the agency has deployed inspection teams to operate around the clock, closely monitoring all fuel retail outlets across the city.

Authorities are tasked with promptly identifying and handling violations, while maintaining strict oversight of supply, demand and pricing developments.

Officials said particular attention is being paid to signs of irregularities such as unjustified price hikes, supply disruptions, or stations suspending sales without legitimate reasons.

Any abnormal market behaviour is reported directly to the Department of Industry and Trade to ensure timely intervention and safeguard local energy security.

Targeted inspections have also been intensified, focusing on fuel distributors and retail businesses.

Violations such as hoarding, artificially creating shortages, selling above listed prices, or trading in smuggled or substandard fuel products will face strict penalties.

For petrol stations claiming supply shortages, authorities have required the submission of purchase orders and relevant documents to verify whether the lack of supply is genuinely due to upstream disruptions.

This measure aims to rule out opportunistic hoarding that could harm consumers.

In parallel, the city is strengthening communication efforts to encourage compliance with regulations among fuel traders, while raising public awareness.

Residents are urged to report suspicious activities and avoid stockpiling fuel, which poses serious fire and safety risks to both households and communities. 

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