VOV.VN - Vietnam will build another oil refinery, the third of its kind, to ensure a sufficient supply of petroleum products for local consumption, said Deputy Prime Minister Le Van Thanh.

VOV.VN - Trade Minister Nguyen Hong Dien on March 16 played down legislators’ worries about petroleum supply disruption due to global price volatility, saying Vietnam has a sufficient supply of petroleum products for local consumption.

VOV.VN - VinaCapital, one of Vietnam’s most experienced asset management companies, has forecast that the country’s GDP growth rate this year is likely to expand by 6.5%, or 1% lower than its previous forecast.

The Ministry of Industry and Trade has asked authorities of cities and provinces nationwide to step up checks and monitoring of oil and gas trade as the ongoing ups and downs of the global fuel market are having major impacts on the domestic supply and prices.

Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund if petrol prices keep rising, said a leader from the Ministry of Industry and Trade (MoIT).

VOV.VN - Domestic petrol prices have hit an eight-year record high following the latest price adjustments made on February 21, dealing a heavy blow to ongoing recovery efforts of firms that have borne the brunt of the prolonged COVID-19 pandemic.

VOV.VN - A representative of the Ministry of Industry and Trade (MoIT) has confirmed that Vietnam has a sufficient supply of fuel for local use and offers solutions if a shortage occurs in the market.

VOV.VN - A large number of petrol stations in several localities have suspended operations or have been forced to cut working hours over the past few days, reasoning that they have either faced losses or only received a limited supply of fuel.

VOV.VN - This year’s consumer price index (CPI) rose by 1.84% compared to 2020’s figure, marking the lowest increase in Vietnam since 2016, the General Statistics Office (GSO) announced on December 29.

The retail prices of oil and petrol were revised up starting from 3pm on December 25 after going down in the two consecutive reviews by the Ministry of Industry and Trade and the Ministry of Finance.