Fuel prices have dropped significantly, but high raw material and labor costs mean many eateries continue to raise prices, contrary to consumer spending expectations.
Beginning 3:30 PM on 9/4, gasoline and oil prices saw reductions ranging from 1,660 to 9,880 dong per liter or kilogram, depending on the product type.
The Ministry of Finance proposes a plan to reduce value-added tax and environmental protection tax on kerosene and fuel oil to 0, similar to gasoline, diesel, and jet fuel.
The Ministry of Finance proposes to halve the environmental protection tax on gasoline (excluding ethanol) and diesel, reducing it to 1,000 dong and 500 dong per liter, respectively.
A 23-year-old electric vehicle salesman was fined 7,5 million dong for posting misleading information that 'gasoline prices would reach 40,000 dong per liter in the near future'.
The Ministry of Finance proposes reducing the preferential import tax on some fuel products to 0% to increase supply and stabilize the market amid tensions in the Middle East.
Gasoline and oil prices (excluding mazut oil) increased by 750-1,000 VND per liter or kg from 3 pm today, following adjustments by the inter-ministerial committee of industry and trade and finance.
