From 0:00 on July 1, gasoline prices increased by 1,290-1,430 VND per liter after the special consumption tax was restored while oil prices remained unchanged.
According to the joint management of the Ministry of Finance – Industry and Trade, the price of E10 RON 95-III gasoline increased by 1,290 VND to 21,200 VND per liter. Similarly, the price of E5 RON 92 VND increased by 1,430 VND, at 20,780 VND per liter.
Meanwhile, diesel and fuel oil remain the same as the previous operating period.
Prices of domestic gasoline products were adjusted after the Government issued Resolution 34, allowing the collection of special consumption tax on this product from July 1, specifically mineral gasoline at 10%, E5 8% and E10 7%.
In addition to special consumption tax, preferential import taxes (MFN), environmental protection tax, and value added tax (VAT) on gasoline and oil continue to be exempted until September 30, which is an additional 3 months compared to current regulations.
Gasoline and oil prices change as follows:
During this period, the operator continued to re-deposit into the Petroleum Stabilization Fund, at 300 VND for each liter of biofuel, diesel and mazut 800 VND.
From June 1, all RON 95-III mineral gasoline will be mixed with 10% ethanol to form E10 gasoline before being sold to the market. Meanwhile, E5 RON 92 gasoline continues to be maintained until the end of 2030.
At the discussion on June 30, Mr. Nguyen Thanh Nam, Deputy Director of the Department of Domestic Market Management and Development (Ministry of Industry and Trade), said that the implementation of E10 is basically on schedule, the supply is guaranteed and the distribution system operates stably.
From June 1 to 24, the whole country consumed about 850 million liters of biofuel, of which E10 accounted for about 800 million liters, equivalent to 94%, and E5 about 50 million liters.