Petrol price forecast to reach a record high, surpassing 32,000 VND/liter?

According to the update of the Ministry of Industry and Trade until June 6 gas price Retail on the Singapore market, the price of RON92 gasoline is at 150.5 USD/barrel and RON95 gasoline is at 157.4 USD/barrel. Compared to June 1, this price was about 3 USD/barrel higher.

For oil products, the price of oils also increased by about 5 USD/barrel. Specifically, diesel oil is priced at 170.6 USD/barrel, kerosene is 166.6 USD/barrel, and fuel oil is 636 USD/ton.

Talking to VTC News, a leader of a petroleum business said that with the continuous increase of world oil prices, the domestic retail price of petrol is likely to continue to be adjusted up in the coming period. operating to.

Petrol prices hit a record high, surpassing 32,000 VND/liter?

This person said that the increase or decrease in oil prices will depend on the provision and expenditure of the Inter-Ministry of Industry and Trade – Finance to use the Price Stabilization Fund (BOG). But in the context that the BOG fund is exhausted, the price of finished gasoline on the world market continues to increase, the retail gasoline price in the country may increase by 800-1,000 VND/liter, while the oil price will increase more.

“Because the world oil price continuously increased sharply, the retail price of gasoline and domestic oil was forced to increase accordingly. In this context, in order to “cool down” the price of gasoline, there was only a way to reduce taxes and fees”, the leader said. businesses told VTC News.

Previously, in the operating period June 1, the Inter-Ministry of Industry, Trade and Finance increased the price of E5 RON92 gasoline by 602 VND/liter, selling 30,235 VND/liter; RON95 gasoline increased by 921 VND/liter, sold at no higher than 31,578 VND/liter.

Prices of oil commodities have increased. Kerosene is 25,340 VND per liter, an increase of 940 VND. Diesel oil increased to 26,390 VND per liter, up 840 VND. Fuel oil is 20,900 VND per kg, an increase of 310 VND.

Regarding the recent increase in petrol prices, the National Assembly deputies proposed to reduce more taxes to “cool down” gasoline prices. Faced with this situation, Finance Minister Ho Duc Phuc posted a forum to answer questions at the National Assembly on June 8.

The Lao Dong newspaper reported, Minister Ho Duc Phuc said that the price of gasoline is currently increasing, but compared to neighboring countries of Vietnam such as Laos, the price is still higher than the price of gasoline in our country about 10,000-11,000 VND/liter. . Prices in Thailand and Cambodia are also higher by about 2,000 – 3,000 VND/liter.

The head of the Ministry of Finance said, is there a tax reduction or not? This issue falls under the jurisdiction of the National Assembly Standing Committee and the National Assembly.

Also related to the reduction of petroleum environmental tax, according to Minister Phuc, for gasoline, the environmental protection tax is 4,000 VND/liter, the Ministry has proposed and approved by the National Assembly Standing Committee to reduce 2,000 VND. environmental tax/liter. This tax reduction, in general, reduces the loss of about VND 24 trillion in budget revenue.

The remaining 2,000 VND/liter of petrol and oil environmental tax, according to the provisions of the Law, the National Assembly Standing Committee can only decide to reduce another 1,000 VND/liter. To reduce all 2,000 VND/liter of environmental tax in petrol, it falls under the competence of the National Assembly.

As for the 10% excise tax, 10% VAT, whether to reduce tax or not is also under the competence of the National Assembly.​