PM orders ministries to look into tax reduction on gasoline

An employee holds a nozzle at a gas station in Ho Chi Minh City, February 21, 2022. Photo by VnExpress/Quynh Tran

Prime Minister Pham Minh Chinh has instructed the trade and finance ministries to study the possibility of lowering the environmental tax on fuel amid surging prices.

The Ministries of Industry and Trade and Finance need to make a submission on this by February 28, he said.

The environmental tax on the popular RON 95 gasoline is currently VND4,000 per liter ($0.18) or around 15 percent of its retail price. The ratio is similar for the biofuel E5 RON 92.

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