(VOVWORLD) - Prime Minister Pham Minh Chinh has directed authorities to govern petrol and oil prices in a way that ensures balanced interests among the State, businesses and consumers while maintaining stable fuel supply and preventing market disruptions.
 Prime Minister Pham Minh Chinh chairs the meeting on petrol and oil management. (Photo: Lai Hoa) |
Chairing a meeting of Government members in Hanoi on Monday to review measures to secure supply and stabilise fuel prices amid complex developments of the Middle East conflict, the PM stressed that fuel shortages must not occur under any circumstances while prices should follow market fluctuations with appropriate state regulation.
He emphasised that price stabilisation measures must remain flexible and effective, ensuring a balance of interests among the State, businesses and people while strictly preventing hoarding, price manipulation or policy abuse for illegal profit that could destabilise the market.
 Prime Minister Pham Minh Chinh urges ministries to balance energy price management. (Photo: Lai Hoa) |
He also asked for a review of existing taxes, fees and charges related to petrol and oil to offer assistance to businesses and consumers in the current context, with proposals required to be submitted to the Government before March 20.
According to the PM, if the Middle East conflict prolongs, authorities should assess the situation and propose competent bodies allocate the state budget to support fuel price stabilisation. The policy, he stressed, must place production, business and people’s livelihoods at its core, ensuring that economic activities and daily life are kept stable and impacts are minimised.