PM orders no fuel shortages, weighs price stabilisation support

PM orders no fuel shortages, weighs price stabilisation support

Prime Minister Phạm Minh Chính commended authorities for promptly implementing the Government’s directives and taking steps to secure fuel supplies and maintain price stability as the conflict continues to evolve.

Prime Minister Phạm Minh Chính chaired a meeting of the Government Standing Committee on petrol price stabilisation. —VNA/VNS Photo

Fuel shortages must not occur under any circumstances, Prime Minister Phạm Minh Chính said while chairing a meeting of the Government Standing Committee on Monday.

The meeting discussed measures to ensure fuel supply and stabilise petrol prices amid complex developments in the military conflict in the Middle East.

After hearing reports and opinions from ministries and relevant agencies, Chính commended authorities for promptly implementing the Government’s directives and taking steps to secure fuel supplies and maintain price stability as the conflict continues to evolve.

According to the Prime Minister, petrol prices should follow market mechanisms while being regulated by the State through flexible and effective stabilisation measures. Policies must ensure a balance of interests among the State, businesses and the public.

He also warned that hoarding, price manipulation or exploiting policies for profit is strictly prohibited, as such actions could disrupt the market. Relevant ministries and agencies, including the Ministry of Public Security, were instructed to strengthen inspections and strictly handle any violations.

The Government leader asked authorities to review and reduce taxes, fees and other charges related to petrol and oil products in order to support businesses and citizens during the current period, with proposals to be submitted before March 20.

If the military conflict in the Middle East persists, ministries were told to consider reporting to competent authorities on the possibility of allocating State budget resources to support petrol price stabilisation. The policy approach should prioritise production, business activities and people’s livelihoods to minimise negative impacts on the economy and daily life.

The Prime Minister also requested clear assignment of responsibilities among ministries and agencies and called for close co-ordination in implementing fuel management and price stabilisation measures.

Members of the Government were urged to comment on a draft resolution amending Resolution 36 from the Government’s regular meeting in February regarding fuel management, so that the revised resolution can be issued soon.

Deputy Prime Minister Hồ Đức Phớc was assigned to directly oversee matters related to tax and fee policies, while Deputy Prime Minister Bùi Thanh Sơn will supervise issues related to market stabilisation and the State management responsibilities of the Ministry of Industry and Trade. 

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