Specifically, regarding the meeting of the Price Management Steering Committee on the results of price management in the first 7 months of the year and the remaining months of 2023, chaired by Deputy Prime Minister Le Minh Khai on the morning of August 3, according to the Ministry of Industry and Trade, some newspapers published information that this agency has not yet submitted to the Government a draft amendment to Decree 95 and Decree 83 on petroleum trading.

Regarding the above issue, the Ministry of Industry and Trade affirmed: This information is incorrect. Since July 18, the Ministry has submitted a draft amendment to the decrees on petroleum business to the Government.

The Government assigned the Ministry of Industry and Trade to amend the Decree on petroleum trading from the end of 2022, following a simplified procedure, in the context of many complicated market developments and local disruptions in petroleum supply.

However, the delay in issuing the revised petroleum decree has caused many petroleum businesses to react, with many expressing their opinions and even sending petitions to the Prime Minister.

At the meeting this morning, Deputy Prime Minister Le Minh Khai made specific comments regarding price management for petroleum and electricity products. Regarding the petroleum product group, the Deputy Prime Minister requested the Ministry of Industry and Trade to continue to closely monitor market developments to prepare appropriate measures. At the same time, it is necessary to synchronously and effectively implement solutions to ensure petroleum supply for the domestic market; to avoid shortages and interruptions in petroleum supply.

On August 25, Nghi Son Oil Refinery will temporarily stop operations for nearly two months to perform routine maintenance. Nghi Son's temporary suspension of petroleum production has attracted much attention, as it supplies 35% of the domestic petroleum market share. The Ministry of Industry and Trade has also directed key corporations and enterprises to proactively increase imports to ensure that supply is not disrupted, affecting domestic supply.