Ministry’s lax oversight leads to fuel trading irregularities: Inspectorate

HCMC – The Ministry of Industry and Trade’s lax oversight has led to irregularities in fuel trading, including the misappropriation of the fuel price stabilization fund and violations in fuel trading licensing and fuel reserves. Some of these fuel suppliers failed to establish an effective distribution system after obtaining licenses, causing fuel supply disruptions. From 2017 to September 2022, certain fuel suppliers violated regulations by distributing 829,000 cubic meters of fuel inappropriately to take advantage of differential pricing. Some fuel traders neglected their responsibility to ensure a stable fuel supply source, leading to interruptions in gasoline supply in 2022. The ministry’s management of the fuel price stabilization fund also came under scrutiny.