On the afternoon of October 23rd, 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 reduce the price of E5 RON 92 gasoline by 170 VND/liter and RON 95 gasoline by 180 VND/liter. After the adjustment, the retail price of E5 RON 92 gasoline is 19,050 VND/liter and RON 95 gasoline is 19,720 VND/liter.
Diesel fuel continued to fall by 540 VND/liter to 17,880 VND/liter, kerosene decreased by 290 VND/liter to 18,110 VND/liter; and fuel oil decreased by 280 VND/kg to 14,090 VND/kg. The regulatory agency maintained that it would not allocate or disburse funds from the price stabilization fund.
Thus, domestic gasoline prices have reversed course and started to fall after just one increase. From the beginning of the year until now, RON 95 gasoline has increased 24 times and decreased 20 times. Diesel fuel has increased 21 times, decreased 21 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 Resolution on environmental protection tax rates for gasoline, diesel, and lubricants in 2026 was recently approved by the National Assembly Standing Committee at its meeting on October 17th.
According to this resolution, from January 1, 2026 to the end of 2026, the environmental protection tax rate for gasoline (excluding ethanol) will be 2,000 VND/liter; and for diesel fuel, fuel oil, and lubricating oil, it will be 1,000 VND/liter.
The environmental protection tax rate applied to lubricating grease is 1,000 VND/kg; kerosene is 600 VND/liter. The tax rate for aviation fuel, however, is 1,500 VND/liter – an increase of 500 VND/liter compared to the current rate.
With projected gasoline, diesel, and lubricant consumption in 2026 being equivalent to this year's projected consumption, and with the environmental protection tax rate, the Government anticipates a decrease in environmental protection tax revenue compared to the rate implemented under Resolution 579 of approximately VND 41,388 billion, and a total budget revenue (including the reduction in value-added tax) of approximately VND 44,699 billion.
Source: https://dantri.com.vn/kinh-doanh/gia-xang-dau-dong-loat-giam-co-loai-giam-hon-500-donglit-20251023141757818.htm
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