11.07.2022 12:17

Gasoline and oil prices fell by more than 3,000 VND per liter

Photo: Ngọc Thành
After the adjustment of the inter-Ministry of Industry, Trade and Finance, the price of E5 RON 92 gasoline was 27,780 VND (down 3,110 VND), RON 95-III gasoline was 29,670 VND (down 3,090 VND) per liter. Thus, the price of gasoline has dropped to less than 30,000 VND per liter, equal to the price threshold in mid-March.

The price of oil products also fell simultaneously. Diesel is 26,590 VND per liter, down 3,020 VND. Kerosene has a new price of 26,340 VND, down 2,010 VND. Fuel oil also dropped to 18,920 dong per kg, down 800 dong.

After 5 periods of not setting aside for the price stabilization fund for gasoline, this time the world price is falling deeply, so the management agency has decided to deduct 950 VND per liter of gasoline into the fund. Diesel oil is deducted 550 VND per liter, kerosene is 800 VND and fuel oil is 950 VND per kg. This is to create room for the fund in the next operations and help the Fund balance at many key enterprises to be less negative.

Petrol prices from the operating period 11/7 to the end of the year are reduced "framework" of environmental protection tax. That is, each liter of gasoline is 1,000 VND less, oil products are 500-700 VND per liter depending on the type (VAT not included). As for kerosene, the environmental protection tax rate remains at 300 VND per liter because this is the floor in the tax rate bracket.

Previously, the environmental protection tax on gasoline and oil was reduced by 50% according to the decision of the National Assembly Standing Committee from April 1 to the end of this year. However, due to the sharp increase in fuel prices, keeping at a high level, the competent authorities decided to further reduce this tax from July 11 to the end of this year to cool down this item and avoid the impact on inflation.

In today's document on the implementation of the Resolution on further reduction of environmental protection tax of the National Assembly Standing Committee, Deputy Prime Minister Le Minh Khai asked the Ministry of Finance to soon amend and supplement the Decree on import and export tariffs. preferential import (MFN) to diversify the supply for the domestic market.

The Ministry is also required to soon study the reduction of special consumption tax and value added (VAT) on gasoline and oil to submit to the National Assembly for consideration and appropriate decision in case the world price of gasoline and oil continues. complicated movements, increased or remained high.

According to experts, the calculation of VAT reduction, special consumption with gasoline needs to be done and submitted to the National Assembly soon, should not wait until October - the session according to the usual schedule of the National Assembly.

From the beginning of the year until now, the domestic retail gasoline price has had 18 adjustments with 13 increases and 5 decreases. Compared to the end of last year, the price per liter of RON 95-III is still 6,380 VND more expensive, E5 RON 92 increased by 5,230 VND per liter; and diesel is 9,020 dong.
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