Gasoline prices surge, diesel prices fall.

(Dan Tri Newspaper) - In the price adjustment on October 16th, gasoline and diesel prices moved in opposite directions. Specifically, gasoline prices increased by 90-180 VND/liter.

On the afternoon of October 16th, the Ministry of Finance and the Ministry of Industry and Trade jointly announced a change in retail gasoline and diesel prices. The changes took effect from 3 PM on the same day.

Accordingly, the regulatory agency decided to increase the price of E5 RON 92 gasoline by 90 VND/liter and RON 95 gasoline by 180 VND/liter. After the adjustment, the retail price of E5 RON 92 gasoline is 19,220 VND/liter and RON 95 gasoline is 19,900 VND/liter.

Diesel fuel prices decreased by 180 VND/liter to 18,420 VND/liter, kerosene prices decreased by 30 VND/liter to 18,400 VND/liter; and fuel oil prices decreased by 430 VND/kg to 14,370 VND/kg. The regulatory agency continues to maintain the policy of not allocating or disbursing funds from the price stabilization fund.

Thus, domestic gasoline prices have surged after just one day of decline. Since the beginning of the year, RON 95 gasoline has increased 24 times and decreased 19 times. Diesel fuel has increased 21 times, decreased 20 times, and remained unchanged once.

The fuel price stabilization fund of several key enterprises still has a large positive balance because this fund has not been used in many recent price adjustment periods. The fund balance as of the end of the second quarter was over 5,614 billion VND. Of this, the balance at Vietnam National Petroleum Group ( Petrolimex ) accounts for half, at 3,084 billion VND.

In other news, the Ministry of Finance is drafting a Circular detailing certain provisions of the Decree implementing certain articles of the Law on Special Consumption Tax. This includes provisions on tax refunds for bioethanol.

In the draft, the Ministry of Finance proposes that businesses producing and blending bioethanol declare, pay, and deduct excise tax at the tax authority where their head office is located.

The remaining tax on gasoline used as a raw material that has not been fully deducted is offset against the tax on other goods and services during the period. If there is still a surplus after offsetting, the enterprise may carry it over to the next period for further deduction or receive a tax refund as prescribed.

Also in this draft, the Ministry of Finance proposes regulations on the documentation and procedures for refunding uncredited excise tax for biofuel producers.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-bat-tang-dau-giam-20251016142412889.htm