After major fuel distributors sent proposal to Ministry of Finance for an approval on gasoline price increase of VND1,200 a liter further, many gas retailers in some regions are in phenomenon of hoarding for price increase

As reported by Vietnamese News Agency, phenomenon is taking place in Binh Duong and Bac Lieu provinces.

In Binh Duong province, many fuel retailers hang signboards “out of gasoline, or machine damage, or power outage...”.On 747 provincial highway through the Thai Hoa Town, Tan Uyen District, there are three gasoline retailers include Quang Phuong, Tan Ba and Phuoc Teo hang signboards “stop selling”.

Mr Tran Van Hung, Deputy Director of Binh Duong Market Management Department said that some gasoline retailers stop selling or limit sales because they are waiting for approval from Ministry of finace on price increasing of more than VND1,000 a liter. However it is not impact on the market.

Mr Tung added that agency will regularly check for strict handling if found any retailer stops selling for speculation.

In Bac Lieu province, peoples in region have reported that many gasoline retailers open too late or close too soon, or hang signboard “out of gasoline”.

According to the Bac Lieu Trade and Industry Department, there are more than 200 gasoline retailers in region. Currently, gasoline supply is not shortage, it can meet the needs for demand of local consumers. To deal with this situation, leaders of Bac Lieu has ordered the Trade and Industry Department, Market Management Department to strengthen the management, check and deal with serious cases "hoarding" for specification.

Xangdau.net