Gasoline prices may drop sharply tomorrow

Normally, the new petrol price is announced at 3pm, but at the operating period on April 1st, gasoline price will be adjusted earlier due to the effect of reducing environmental protection tax applied from 00:00. A source from the inter-Ministry of Industry, Trade and Finance said that the petrol price is expected to be announced tonight and the new price will take effect from 0:00 the day after tomorrow.

Data from the Ministry of Industry and Trade shows that the average price of finished gasoline on the Singapore market was updated to March 28 with RON92 being 128.65 USD per barrel, RON95 being 132.48 USD per barrel, up 7-8% compared with the previous adjustment.

Share with VnExpress, The leader of a petrol and oil hub in Ho Chi Minh City, said that in the past 10 days, the world price of gasoline and oil increased sharply again. However, from April 1, the environmental tax will be reduced by 2,000 dong per liter for gasoline and 1,000 dong for oil, so this operating period the price of gasoline and oil will decrease sharply.

“According to calculations based on available data, gasoline prices will fall around 1,200-1,300 VND per liter,” said a petroleum leader in Ho Chi Minh City.

Sharing the same opinion, the director of a petrol and oil hub in Hanoi said that gasoline prices this time were forced to go down because of the effective policy of reducing environmental tax on gasoline. In addition, in this operating period, managers may deduct additional stabilization funds.

Environmental tax on gasoline will start to decrease from April 1, 2022 to December 31, 2022. After this tax reduction, each liter of gasoline is reduced by 2,200 VND (including VAT) and the price of oil is also adjusted by 1,100 VND.

In addition to reducing the environmental protection tax, the Government’s verification agency suggested that the most favored nation (MFN) import tax reduction on gasoline should be considered, and considered this as an additional measure to intervene in the event of oil prices. rough world fluctuations. This tax reduction will be calculated on the basis of assessing the import situation from ASEAN countries, Korea, Singapore… and world price fluctuations.

The Finance and Budget Committee also suggested that the Government strengthen management, inspection and take measures to reduce supply pressure in the market. This is to ensure that domestic petroleum wholesalers use the correct amount of commercial petroleum reserves in accordance with regulations.

At the operating period of March 21, each liter of RON 95 and E5 RON92 gasoline decreased by VND 630-650; and diesel oil decreased by more than 1,630 dong. Thus, after adjustment, the price of gasoline E5 RON 92 from 28,330 VND per liter; RON 95 is 29,190 dong. Kerosene is 22,240 VND per liter. Diesel oil returned to 23,630 VND per liter.

Thi Ha