Gov’t removes fuel tariffs to stabilize supply amid Middle East tensions
VGP - The Government has decided to remove import tariffs on certain fuel products to ensure supplies amid rising tensions in the Middle East, according to Decree No. 72/2026/ND-CP.
Domestic retail fuel prices are increased following a surge in global oil prices and intensified foreign exchange pressures amid growing Middle East tensions
The move aims to help businesses proactively diversify import sources and contribute to stabilizing the domestic supply of gasoline and petroleum products.
Under the Decree, the most-favored-nation (MFN) import tariff on unleaded motor gasoline and gasoline blending components such as naphtha and reformate shall be reduced from 10 percent to 0 percent.
Tariffs on diesel fuel, fuel oil, jet fuel and kerosene shall be reduced from 7 percent to zero percent.
In addition, several petrochemical feedstocks, including xylene, condensate and p-xylene, see tariffs lowered from 3 percent to 0 percent, while tariffs on other cyclic hydrocarbons shall be reduced from 2 percent to 0 percent.
The decree takes effect from March 9 to April 30, 2026.
Domestic retail fuel prices were increased on March 7 following a surge in global oil prices and intensified foreign exchange pressures amid growing Middle East tensions, the Ministry of Industry and Trade and the Ministry of Finance said in a joint statement.
The retail price of E5RON92 biofuel rose by VND3,777 (around US$0.14) to a maximum of VND25,226 per liter, remaining VND1,821 lower than RON95-III gasoline.
The price of RON95-III gasoline increased by VND4,707 to VND27,047 per liter.
Meanwhile, diesel 0.05S saw the steepest rise, climbing VND7,207 to a ceiling of VNĐ30,239 per liter, while kerosene increased by VND8,490 to a maximum of VND35,091 per liter.
Mazut oil price rose by VND3,831 to no more than VND21,327 per kg./.
