VIENTIANE: The government is carrying out checks on the amount of fuel stored at petrol stations around the country after panic buying triggered by Middle East tensions raised concerns about fuel supply.
Commerce officials in Vientiane and provincial departments have begun inspections of petrol stations and fuel businesses following a notification issued by the Ministry of Industry and Commerce.
The ministry instructed authorities to closely monitor fuel distribution and ensure petrol stations remain open to serve the public during the ongoing conflict to create reassurance during times of uncertainty and speculation.
The inspections follow public concern sparked by reports that instability in the Middle East could affect global oil and energy supplies. The rumours prompted motorists in several areas to rush to petrol stations to fill their tanks.
Despite these concerns, the ministry has reassured the public that fuel supplies in Laos remain stable. Data reviewed at a recent meeting showed that more than 10 million litres of fuel were available nationwide as of March 2.
Officials also confirmed that Thailand is continuing to export fuel to Laos. Thai authorities issued a notice affirming that fuel exports will continue while the situation in global energy markets is closely monitored.
Fuel companies operating in Laos were reported to have sufficient reserves to meet current demand and prevent shortages.
Trade inspectors are checking petrol stations to ensure they are operating normally and selling fuel as required. If inspectors find that a station has fuel but is intentionally closed to create speculation, the management will be ordered to resume service immediately.
Inspectors are also verifying fuel quality and measurement systems to ensure consumers receive fuel of the correct standard and quantity.
Authorities warn that any operator who violates the regulations will face strict action. This may include written warnings and possible suspension or revocation of business licences.
To strengthen oversight, the ministry instructed fuel importers and distributors to ensure their petrol stations remain adequately supplied before they provide fuel to commercial projects.
District trade inspectors have also been told to closely monitor petrol stations that report shortages or temporarily close, in order to verify conditions on the ground and prevent hoarding.
The ministry called on the public to remain calm and avoid panic buying, noting that careful use of fuel can help households reduce unnecessary spending and ease pressure on the country’s foreign currency reserves. - Vientiane Times/ANN
