Gasoline prices increased sharply, some types increased by more than 1,300 VND/liter

On the afternoon of October 30, the Ministry of Finance and the Ministry of Industry and Trade jointly announced changes to retail gasoline prices. The effective time is from 3:00 p.m. the same day.

Accordingly, the regulatory agency decided to increase the price of E5 RON 92 gasoline by VND710/liter and RON 95 gasoline by VND760/liter. After adjustment, the retail price of E5 RON 92 gasoline is VND19,760/liter and RON 95 gasoline is VND20,480/liter.

Diesel oil increased by 1,320 VND/liter to 19,200 VND/liter, kerosene increased by 1,160 VND/liter to 19,270 VND/liter; fuel oil increased by 540 VND/kg to 14,630 VND/kg. The management agency still maintains not to draw from or spend from the price stabilization fund.

Thus, domestic gasoline prices have increased after only one decrease. Since the beginning of the year, RON 95 gasoline has increased 25 times, decreased 20 times. Diesel has increased 22 times, decreased 21 times and remained unchanged once.

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

In another development, the Resolution on environmental protection tax rates for gasoline, oil, and grease in 2026 was just approved by the National Assembly Standing Committee at the meeting on October 17.

According to this resolution, from January 1, 2026 to the end of 2026, the environmental protection tax on gasoline (except ethanol) is VND 2,000/liter; diesel oil, fuel oil, and lubricants is VND 1,000/liter.

The environmental protection tax rate applied to grease is 1,000 VND/kg; kerosene is 600 VND/liter. The tax rate for jet fuel is 1,500 VND/liter - an increase of 500 VND/liter compared to the current rate.

With the expected consumption output of gasoline, oil, and lubricants in 2026 being equivalent to the expected consumption output this year and with the environmental protection tax rate, the Government expects environmental protection tax collection to decrease compared to the tax rate implemented according to Resolution 579 by about VND 41,388 billion and total budget revenue (including the reduction in value added tax) to decrease by about VND 44,699 billion.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-dau-tang-manh-co-loai-tang-hon-1300-donglit-20251030142644036.htm