The Department of Market Management has said that it is looking into claims that petrol stations have been hoarding gasoline after hearing rumors about a price increase.
Government investigates petrol hoarding
Across the country there have been an estimated 212 petrol stations that have either limited working hours or temporarily closed, while 136 stations have turned off their pumps, claiming limited supply from wholesalers as the reason.
Before the third petrol price hike, on August 3, 83 shops also closed in 16 provinces and cities, and before the fourth petrol price hike on August 28, the number of stations that temporarily shut down increased to 103 in 25 provinces and cities.
The Market Management Department said the lack of petrol is the most common excuse that station owners use. Owners claim that wholesalers, such as Mipec, PVOil, Petrolimex and Petimex cannot meet their demand.
The department has decided to investigate wholesalers' distribution systems, registration dossiers and contracts. The department will also check the temporarily closed stations and look into their contracts, invoices and delivery bills from suppliers.
The other 76 shops closed for various reasons. Seven shops that closed cited broken equipment or power shortages. Six stations claimed personal reasons such as funerals or weddings were their reasons for closing.
The department said that 25 stations which closed or limited their service said they did so because of losses and they also changed their businesses. Nine gave no explanation.
Suspicion looms over the closings, with many wondering if station owners are just waiting for the next price hike to increase their profits.
