Vietnam gasoline prices fell Thursday afternoon to the lowest since Feb. 12.
The popular fuel E10 RON95 dropped 6.19% from a week ago to VND19,840 (US$0.77) per liter.
E5 RON92 declined by 7.18% to VND19,390. Diesel fell 7.39% to VND26,820.
Global fuel markets have been affected by reports that the U.S. had postponed new attacks on Iran while attacks on oil tankers continued in the Strait of Hormuz.
RON95 fell 6.9% to $106 per barrel, while diesel dropped 6.9% to $152.3.
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An employee refills a motorbike at a fuel station in HCMC, July 2020. Photo by Read/Quynh Tran |
The special consumption tax on all grades of gasoline fell to zero on Nov. 1 and will remain at that rate through the end of March 2027. The measure is expected to reduce state budget revenue by more than VND7.67 trillion.
The Ministry of Industry and Trade is seeking feedback on a draft decree on fuel trading that would allow key fuel suppliers to set their own retail prices using a prescribed formula, replacing the current system of periodic government price adjustments.