N.A. Standing Committee agrees to reduce environmental protection tax for fuel

Accordingly, the N.A. Standing Committee adjusted the environmental protection tax rate from 2,000 VND (0.086 USD) to 1,000 VND per liter for petrol (except ethanol), from 1,000 VND to 500 VND per liter for diesel, from 1,000 VND to 300 VND per liter for mazut and lubricant and 300 VND per kg for grease. That for kerosene remains unchanged at 300 VND per liter.

The reduction will be applied from July 11 until the end of this year.

Speaking at the Standing Committee's session, N.A. Chairman Vuong Dinh Hue said that as petrol prices have a strong impact on economic growth and macroeconomic stability, price stabilization is very important in the context of the current high oil prices.

Therefore, this session was organized to adopt a practical and timely measure to stabilize the prices of petrol, diesel and grease, thus contributing to the implementation of the strategy for socio-economic recovery and development, curb inflation, macro-economic stability, and to reducing costs for businesses and people.

Although petrol prices were adjusted down on July 1 after seven consecutive increases, the prices are at a high level, at 32,763 VND per liter for RON95, 30,891 VND for E5RON92 bio-fuel, and 29,615 VND and 28,353 VND for diesel 0.05S and kerosene, respectively.

Source: VNA