Gasoline prices jump to nearly 21,000 VND/liter

The price of gasoline and oil in today's adjustment period (November 7) was adjusted up, the highest increase belonged to diesel. The price of RON 95 gasoline increased to nearly 21,000 VND/liter.

Based on the direction of the Ministry of Industry and Trade - Ministry of Finance, businesses simultaneously adjusted gasoline prices from 3:00 p.m. today.

Compared to the previous adjustment period, in today's adjustment period, the price of E5 gasoline was adjusted up 340 VND/liter, selling price is 19,740 VND/liter. The price of RON 95 gasoline increased 350 VND/liter, selling price is 20,850 VND/liter.

Similarly, diesel price was adjusted up sharply by 770 VND/liter, selling price is 18,910 VND/liter.

In today's operating session, the Ministry of Industry and Trade - Ministry of Finance continued not to draw or spend from the Price Stabilization Fund for petroleum products.

Gasoline prices have been adjusted up. Photo: Nguyen Hue

Regarding the petroleum market, the Ministry of Finance has just proposed to continue reducing environmental protection tax (EPT) on petroleum, oil, and lubricants in 2025 as currently.

From January 1, 2024, the environmental protection tax rate for gasoline (except ethanol) is VND 2,000/liter; jet fuel, diesel oil, fuel oil, and lubricants is VND 1,000/liter; grease is VND 1,000/kg and kerosene is VND 600/liter.

However, from January 1, 2025, the environmental protection tax rate on gasoline, oil, and grease will be implemented according to the provisions of Resolution No. 579/2018/UBTVQH14 dated September 26, 2018 of the Standing Committee of the National Assembly with the tax rate equal to the ceiling rate in the Tax Schedule issued with the Law on Environmental Protection Tax (except kerosene).

Accordingly, gasoline increased from 2,000 VND/liter to 4,000 VND/liter; jet fuel increased from 1,000 VND/liter to 3,000 VND/liter; diesel, fuel oil, and lubricants increased from 1,000 VND/liter to 2,000 VND/liter; kerosene increased from 600 VND/liter to 1,000 VND/liter (ceiling is 2,000 VND/liter); grease increased from 1,000 VND/kg to 2,000 VND/kg.

According to the Ministry of Finance, 2025 is the final year of implementing the 5-year socio-economic development plan 2021-2025, so it will pose many challenges in controlling inflation and promoting growth to complete the economic development goals according to the 5-year plan.

Therefore, the increase in environmental protection tax on gasoline, oil, and grease to the ceiling level of the Tax Schedule from January 1, 2025 will negatively affect people's lives as well as production and business activities of enterprises, thereby affecting inflation and directly impacting macroeconomic stability.

Source Vietnamnet.vn

Source: https://baophutho.vn/gia-xang-bat-tang-len-sat-21-000-dong-lit-222290.htm