The wave of filling station closings has spread widely across the southern provinces, and signs of speculation have been detected. Consumers are extremely concerned as they cannot buy fuel, while a new fuel price increase is almost guaranteed to be implemented soon.

>> Filling stations close over anticipated price hikes A number of stations in Ho Chi Minh City and the neighboring provinces of Dong Nai and Binh Duong have driven customers away with their “out of stock” excuse, but some said they have actually had to stay closed as there is really no gasoline left in stock. The reason, they said, is that the wholesalers have refused to continue supplying fuel. On August 23, local market management officials inspected the Minh Tan 1 and Phu My stations, located in the city’s Cu Chi District, which opened only to sell oil, not gasoline. The officials found only 150 liters left in stock at each facility, which is not enough for them to remain operational. The station owners said they did try to contact the supplier -- Thalexim Co, but the wholesaler only accepted to provide some 3,000 liters every three to four days. “We asked to have 4,000 liters of gasoline on August 20, but Thalexim only distributed 2,000 liters three days later,” said Kim Anh, owner of Minh Tan 1 filling station. Anh said her facility was suspected by local customers to be speculating the fuel, while the stock was in fact empty. “It’s only because we failed to receive more supply from Thalexim. We committed no hoarding of gasoline, and will resume sales immediately when stocks are refilled,” she promised. Meanwhile, the supplier denied its responsibility, saying it has provided an adequate amount of petroleum for Minh Tan 1. “Thalexim has supplied 23,000 liters of gasoline for Minh Tan 1 so far in August, while the quota for this dealer is 25,000 liters a month,” said company CEO Doan Minh Quang. “So when the filling station asked for a greater amount than that, we could not accept the proposal,” he told Tuoi Tre.Blank contract At a time when fuel prices are expected to be increased, many fuel businesses have been manipulating the market, according to experts. “That’s why the public struggles to buy fuel days before prices are hiked,” they said. For instance, H, who runs a system of five to six filling stations in HCMC and Binh Duong, usually spends dozens of billions of dong on buying 2 to 3 million liters of gasoline when prices show signs of rising. However, he sends money, and the supplier issues receipts, while not a single drop of gasoline is actually moved. H will only receive the fuel once prices have already increased, and this is when he will sell the petroleum at the new prices to rake in profits to recoup his spending. “Many other fuel businessmen utilize the same trick,” revealed H, adding he has to pay commission for almost every player in the distribution chain, from wholesaler to dealers, to successfully carry out the plan.