Increase import tax, no decrease in gasoline prices

On May 8, 2013, the Ministry of Finance issued Circular No. 58/2013/TT-BTC amending preferential import tax rates for a number of petroleum products.

Accordingly, from May 8, import tax on gasoline will increase from 16% to 19%; import tax on diesel fuel for cars and other diesel fuels will change from 12% to 14%; import tax on fuel oil will change from 14% to 15%.

As of May 7, the average 30-day base price was lower than the retail price of Ron 92 gasoline by more than VND400/liter, more than VND200/liter of DO oil and kerosene, and nearly VND400/kg of FO oil.



Previously, on April 26, the Ministry of Finance and the Ministry of Industry and Trade jointly requested key enterprises to reduce the price of gasoline by at least 301 VND/liter; diesel by at least 90 VND/liter; and kerosene by at least 81 VND/liter. Only fuel oil remained stable.

Immediately after that, the Vietnam National Petroleum Group (Petrolimex) announced a reduction of 310 VND/liter of gasoline to 23,830 VND/liter and 100 VND/liter of diesel and kerosene to 21,250 VND/liter and 21,300 VND/liter.

At 6:00 p.m. tonight, Vietnam time, the price of light sweet crude oil on the New York market fluctuated at 95.55 USD/barrel, while the price of Brent oil was at 103.78 USD/barrel.

According to VN Economy - TH