Gasoline price drops nearly 400 VND/liter from tomorrow

On July 1, the Ministry of Industry and Trade and the Ministry of Finance will adjust retail prices of gasoline and oil when the policy of reducing value-added tax (VAT) according to Resolution 204/2025 of the National Assembly officially takes effect. Specifically, gasoline and oil products will have their VAT reduced by 2% until the end of 2026 to 8%.

After applying the VAT reduction, from 0:00 on July 1, the price of RON 95 gasoline will decrease by VND390/liter to VND21,110/liter; E5 RON 92 gasoline will decrease by VND380/liter to VND20,530/liter.

Similarly, oil prices will also be adjusted downwards from tomorrow. Specifically, diesel will decrease by 360 VND/liter to 19,340 VND/liter; kerosene will decrease by 350 VND/liter to 19,060 VND/liter; fuel oil will decrease by 310 VND/kg to 16,950 VND/kg. The regulatory agency will still maintain not to draw from or spend the price stabilization fund.

Thus, the domestic price of RON 95 gasoline has reversed after 5 consecutive increases. Currently, the price of this fuel is at its lowest level in the past 4 years, equivalent to July 2021. Since the beginning of the year, RON 95 gasoline has increased 15 times, decreased 12 times. Diesel has increased 15 times, decreased 11 times and remained unchanged once.

The fuel price stabilization fund of some key enterprises still recorded a large positive level because this fund has not been used in many recent management periods. The fund balance as of the end of the first quarter was more than 6,079 billion VND. Of which, the balance at the Vietnam National Petroleum Group ( Petrolimex ) accounted for half, at 3,082 billion VND.

Regarding the implementation of the total minimum petroleum source for 6 months, Deputy Director of the Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) Nguyen Thuy Hien said that the import in 6 months is estimated at 4.8 million tons of petroleum of all kinds. Regarding production, it is estimated at 7.83 million tons of petroleum of all kinds.

At the 6-month review conference on the petroleum supply situation on June 25, Mr. Tran Ngoc Nam - Deputy General Director of the Vietnam National Petroleum Group (Petrolimex) - said that the group supports the organization of biofuel business, so it is expected that on August 1, it will test E10 gasoline trading in the Ho Chi Minh City market to assess the technical impact and meet customer needs.

Regarding the roadmap for using E10 biofuel that can be mandatory from January 1, 2026, Minister of Industry and Trade Nguyen Hong Dien requested the Department of Domestic Market Management and Development to preside over and coordinate with the Department of Innovation, Green Transformation and Industrial Promotion and other agencies to advise on the issuance of a roadmap for using E10 gasoline.

According to the Minister, the roadmap for using E10 biofuel is expected to start from January 1, 2026. The Ministry of Industry and Trade will submit to the Government for approval a summary report on the implementation of Decision 53/2012 on the roadmap for applying the blending ratio of biofuels with traditional fuels.

Source: https://dantri.com.vn/kinh-doanh/gia-xang-giam-gan-400-donglit-tu-ngay-mai-20250630143103630.htm