A petrol station owned by Dong Phu Agriculture Collective in Quang Dien District closed with a signboard that reads ‘Staff meeting, temporarily suspensed’.  

The request was made by  Vu Duc Dam, Minister-Chairman of the Office of Government, at a press conference held after the Government’s regular meeting-February 2012.

Dam said that the situation had been addressed at the Government’s regular meeting, where PM Nguyen Tan Dung asked the ministries of Finance and Industry and Trade to thoroughly follow on directions given them on petrol prices drawn out in Decree No. 84, regarding petrol prices operated under the market mechanism with state management.

According to minister Dam, the PM urged that strict oversight and enforcement be applied to petrol stations that seek to profit by waiting to sell their inventory until the value goes up. 

“On Tuesday afternoon Government leaders met with the ministries of Finance and Industry and Trade to find solution to this issue,” Dam revealed.

At the press conference, Vu Thi Mai, Deputy Minister of Finance, said that over the last two months, the price for imported petrol has reached its highest level in years, up by 2% to 7%, depending on the type of fuel.

“At present, prices in Vietnam are lower than those of other regional countries,” she explained. “This has led to rumours about increases in the near future."

Recently, a number of petrol stations in Thua Thien Hue City have suspended business, waiting for prices to increase so as to make higher profits.