The Ministry of Industry and Trade (MoT) issued a directive on January 2 regarding measures to ensure the supply of petroleum products for production and trade and also people’s daily life, following a recent direction from the Prime Minister.

The MoT asked its Domestic Market Department to closely monitor the implementation of the minimum total petroleum source in 2024 by gasoline and oil wholesalers.

It is required to regularly check, guide, and adjust the allocation of the total petroleum source in line with market developments and trade and production demand among businesses and people’s consumption, to ensure adequate supply under any circumstances with no disruptions.

The department was also assigned to direct petroleum businesses and retailers to prepare trading plans for petroleum products to ensure sufficient supply to meet demand, particularly during the upcoming Tet (Lunar New Year) holidays.

Regular inspections are needed and any violations in the petroleum business must be strictly handled to ensure the health and transparency of the market, according to the ministry.