Gasoline prices down, oil prices up from tonight

Gasoline prices decrease, oil prices increase from 0:00 on July 1

The Department of Domestic Market Management and Development ( Ministry of Industry and Trade ) recently sent a document to petroleum producers, distributors and trading centers regarding the National Assembly's Resolution approving a 2% reduction in VAT on gasoline from July 1, 2025 to December 31, 2026.

Resolution 204/2025/QH15 of the National Assembly stipulates a 2% reduction in value added tax rate, applicable to groups of goods and services specified in Clause 3, Article 9 of Law on Value Added Tax No. 48/2024/QH15 (to 8%), except for some groups of goods and services such as: telecommunications, financial activities, banking, securities, insurance, real estate business, metal products, mining products (except coal), goods and services subject to special consumption tax (except gasoline).

Accordingly, the Ministry of Industry and Trade - Ministry of Finance will adjust gasoline prices from 0:00 tomorrow, July 1. Specifically, the maximum retail prices for gasoline products are applied as follows:

E5 RON92 gasoline decreased by 101 VND/liter compared to the previous period, not higher than 20,530 VND/liter. RON95 gasoline decreased by 128 VND/liter, not higher than 21,116 VND/liter.

Meanwhile, oil prices increased in the opposite direction. Specifically, diesel prices increased by 193 VND/liter compared to the previous period, not higher than 19,349 VND/liter. Kerosene prices increased by 141 VND/liter compared to the previous period, not higher than 19,064 VND/liter. Fuel oil prices decreased by 668 VND/kg, not higher than 16,955 VND/kg.

The Ministry of Industry and Trade stipulates that the adjustment of selling prices of petroleum products is determined by petroleum wholesalers and petroleum distributors, but not earlier than 0:00 on July 1, 2025 for products with increased prices, and not later than 0:00 on July 1, 2025 for products with decreased prices.

According to Ms. Nguyen Thuy Hien, Deputy Director of the Department of Domestic Market Management and Development, confirmed that from 3:00 p.m. on June 26 to before 0:00 a.m. on July 1, the formula for calculating gasoline prices will still apply a 10% VAT rate. However, from 0:00 a.m. on July 1, the tax rate will be 8%.

On July 3 (Thursday), the Ministry of Industry and Trade will announce the next period of the regular petrol price management schedule. "Thus, this week there will be two price management periods, one of which is according to the regulation of reducing 2% VAT from July 1 and one of which is the normal price management period," said Ms. Hien.

TH (according to VTC News)

Source: https://baohaiduong.vn/gia-xang-giam-gia-dau-tang-tu-dem-nay-415322.html