If gasoline is still about to rise “hot”, is there a way to cool down?

As Dan Tri reported, on March 23, the National Assembly Standing Committee agreed to reduce 50% of environmental protection tax on gasoline, diesel, fuel oil, lubricants and grease compared to the current one; Particularly, the tax rate on kerosene is reduced to 70%. From April 1 to December 31, each liter of gasoline is expected to decrease by VND 2,200 (including VAT) and the price of oil will also be adjusted by VND 1,100.

However, many forecasts show that gasoline prices are still volatile. So in the scenario where the price is still rising “hot”, how will the price of this item be managed to reduce pressure on inflation and avoid too much impact on the lives of people and businesses?

Answer this question at the seminar on gasoline by Industry and Trade newspaper Recently organized, Mr. Tran Duy Dong – Director of the Domestic Market Department (Ministry of Industry and Trade) – said that other long scenarios must still be considered.

Specifically, in the scenario when the oil price fluctuates sharply to 130 USD/barrel, 150 USD/barrel, the Ministry proposes to continue to reduce taxes on gasoline such as environmental tax, excise tax, VAT. … In addition, according to Mr. Dong, taking into account the social security packages, direct support for the beneficiaries business direct gasoline or petroleum users. Regarding the national reserve, Mr. Dong said that we now have financial potential, we need to consider a mechanism to increase the national reserve, and separate the national reserve from the distribution reserve.

Mr. Dong cited that in recent years, some countries have been very flexible in this regard. For example, China has increased imports and national reserves, has a 10-year strategy, thanks to buying cheap crude oil and pumping it into the market, thereby both economically beneficial and a tool to regulate the market. .

Gasoline prices will continue to increase, so the tax collection method should be adjusted

Mr. Trinh Quang Khanh – Standing Vice Chairman and General Secretary of the Vietnam Petroleum Association – shared that it is difficult to forecast petrol prices because it depends on geopolitical factors, supply and weather. .. However, in the current context, experts predict that gasoline prices will continue to increase, Mr. Khanh said. For example, in March, at the peak, the price of gasoline increased to 130 USD/barrel. When it was reported that Russia – Ukraine could sign a peace agreement, the price of oil immediately fell to 99 USD/barrel.

“However, yesterday, the price of oil increased to 116 USD/barrel. Therefore, the movement of petrol price depends on many factors”, Mr. Khanh worries.

According to Mr. Khanh, when world prices fluctuate strongly, we can only use 2 tools: price stabilization fund and tax. Recently, agencies have used most of the stabilization fund to control prices for a certain period of time.

Regarding tax policy measures, the Petroleum Association proposed to the Ministry of Industry and Trade Finance On the basis of the current tax rate of 8% for gasoline, 10% of excise tax should be calculated and considered to be collected according to absolute tax such as environmental protection tax.

Mr. Khanh added that the increase in petrol prices has affected and put pressure on inflation. However, the price cannot be increased enterprise Unfortunately, while the price increases, people have a hard time, so they need to be more flexible in managing gasoline prices.

“We don’t necessarily have to keep 10 days, maybe 2 days. Decree 95 also allows to reduce the operating time. When the market is abnormal, we can shorten the operating time. This has 2 The first is to create a psychology for wholesalers when importing petroleum.In recent times, every time the wholesalers import goods, the price increases and people suffer losses.

The shortening of the price management time can help the shops do business with peace of mind, the time of loss is shortened. Secondly, creating psychology for consumers, the price increases at a level that consumers can accept”, Mr. Khanh analyzed.