Scarcity Petroleum Turns People’s Lives Up
Take advantage of the sun at noon, thinking that no one will plan the same standing in the heat for gas.
But Mr. Hien was wrong…
The line of people standing in front of him reached nearly 20, and the gas station only activated exactly 1 pump. Mr. Hien in Thanh My Loi, District 2 had to hurry to turn around because he couldn’t stand the heat to queue for 30-40 minutes to buy petrol.
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The long line waiting for scared petroleum in Ho Chi Minh City
Stores and agents say “the more they sell, the more they lose” when the price of imported gasoline is higher than the retail price they sell to consumers. In the past few days, many petrol stations and agents in An Giang, Soc Trang, Dak Nong… simultaneously hung signs of out of stock or sold out.
According to Mr. Do Thanh Han, Director of Quoc Thang Co., Ltd., a petroleum business with 8 retail stores in Binh Duong, previously selling a liter of gasoline was entitled to a discount (commission) of 200-1,000 VND. Currently, when the world price increases sharply, most of the agents have reduced the commission to a very low level.
With this commission rate, if you add the cost of transporting from the warehouse to the store, hiring workers, etc… the petrol company and agent suffers a heavy loss for each liter of gasoline sold. That is, the wholesale gasoline price for dealers is higher than the retail price announced in the market.
Scarcity Petroleum Turns People’s Lives Up
The main reasons why the gas market is crazy
In Hanoi, it is not better, before the time of price adjustment, some gas stations hang the sign “out of gas, still have oil”; Others limit the amount of sales from 30,000 – 50,000 VND with each pour for motorbikes, even some gas stations refuse to sell to cars for the reason that “goods are imported less”.
An announcement on November 8 from Petrolimex said that the company’s 96 retail stores began to open for sale 24/24 until the end of November 13, in order to serve consumers in Hanoi, when in the past few days, the situation of people flocking to stores to buy fuel increased dramatically.
Thousands of people are affected by the shortage of gasoline spreading across many provinces.
Faced with this situation, people will have to choose to endure or change their habits to adapt. “But no matter how they adapt, they still have to add costs, time and resources. The total additional costs or losses due to the instability of the petroleum market to society are very large,” experts said.
Dr. Ho Quoc Thong said that there is no universal solution to minimize the negative effects from scarce gasoline. “People should consider options such as sharing, limiting unnecessary travel, using public transport…”, Mr. Thong suggested.
Mr. Thong noted that the cost is not only money, but also time, effort and lost opportunities, which will create other psychological impacts, even social risks.
Solutions?
Temporary: Electric cars/bikes, bicycles, public transport such as buses or even walking if the distance is near
Long-term: Dealers said that at this time, they are doing business to make up for the other, but no longer think about profit. “If the State management agency, the Ministry of Industry and Trade does not involve faster, we will have to close sooner or later,” said the head of a petrol station in Vinh Phuc
People in Saigon switched to electric bikes (Vinfast) instead of motorbikes to avoid buying gas
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