Price of gasoline has increased significantly in the world in recent days, has also consumer demand increased. In the meantime, Typhoon Noru's impacts caused the trains receiving goods at both the Dung Quat and Nghi Son petroleum refineries in late September and early October of 2022 delayed behind schedule.
Additionally, because the purchase surcharge is considerably greater than the basic price, source of imported petroleum was constrained and not as plentiful as it formerly was, which has an impact on company performance.
In spite of these market issues, PVOIL continues its efforts to guarantee a maximum supply of items for the whole system. In particular, PVOIL's petroleum delivery to its retail system nationwide surpassed 7% of the plan in the first nine days of October 2022, and gasoline supply alone exceeded 16%.
The petroleum output delivered by PVOIL to the distribution hubs, notably in Ho Chi Minh City, also exceeded 28% of the plan, with the gasoline product alone exceeding 35%.
PVOIL has requested its affiliates selling petroleum throughout the city such as PVOIL Saigon), and TIMEXCO optimize sales through a network of 21 petroleum stations, to meet the rapid surge in consumer demand at this time.
Particularly, retail sales of PVOIL Saigon and TIMEXCO surged in the first nine days of October 2022 compared to usual (gasoline sale increased by 30%, Diesel Oil increased by 10%). There are several petroleum stations in the city shut down on the 02 days of October 8, and 9, 2022, a large number of consumers migrated to PVOIL petroleum stations, whose occupancy was three times greater than usual, placing a heavy burden on cargo dispatch.
Compared to the average of the days prior, PVOIL Saigon and TIMEXCO's retail volume climbed significantly over the course of these two days (gasoline by 60% and Diesel Oil by 25%).
While PVOIL consistently provides supplies to petroleum stations, occasionally it is unable to keep up with the unexpected rise in demand, leading to the phenomena where certain gas stations quickly run out of fuel while waiting for tank trucks to import goods.
However, PVOIL petroleum stations will never close. Only a few of the retail outlets are temporarily and partially without gasoline. These petroleum stations resumed their regular sales as soon as they received their supplies.
To secure the supply of goods and maintain the steady operation of retail outlets in Ho Chi Minh City as well as the entire system, PVOIL will continue to work to overcome the general market challenges in the days to come.
However, if the current market situation continues for a long time, it will cause great difficulties for PVOIL as well as other key petroleum businesses. Therefore, petroleum businesses hope the authorities will soon have solutions to harmonize the interests of the State, businesses and consumers in order to stabilize the market in the context of volatile world oil prices large, the domestic market is in trouble.
The images below show typical sales operations at PVOIL petroleum stations in Ho Chi Minh City on October 10, 2022, in the morning:
Phu Huu petroleum station at 579 Vo Chi Cong, Phu Huu ward, Thu Duc City, Ho Chi Minh City
Petroleum Station No. 1 at 744 Kha Van Can, Linh Dong Ward, Thu Duc City, Ho Chi Minh City.
Petroleum Station No. 3 at 228 Vo Van Ngan, Truong Tho Ward, Thu Duc City, Ho Chi Minh City
Petroleum Station No. 4 at 236 Vo Van Ngan, Linh Chieu Ward, Thu Duc City, Ho Chi Minh City.