Under a joint decision by the Ministry of Finance and the Ministry of Industry and Trade, the retail price of E10 RON 95-III petrol rose by VND 1,290 (approximately USD 0.05) to VND 21,200 (approximately USD 0.81) per litre. The price of E5 RON 92 increased by VND 1,430 (approximately USD 0.06) to VND 20,780 (approximately USD 0.80) per litre.
Prices of diesel and mazut remained unchanged from the previous pricing period.
Fuel prices were announced late on June 30, instead of the usual Thursday afternoon adjustment, to coincide with new tax policies taking effect on July 1.
Earlier, the government issued Resolution No. 34, restoring the special consumption tax on petrol. Under the policy, the tax rate is set at 8 per cent for E5 petrol and 7 per cent for E10.
In addition to the special consumption tax, preferential import duties under the most favoured nation (MFN) regime, environmental protection tax and value added tax (VAT) on fuel products will continue to be waived until September 30, extending the existing relief measures by three months.
The government also resumed contributions to the Petroleum Price Stabilisation Fund. Fuel distributors will contribute VND 300 (approximately USD 0.01) per litre of biofuel and VND 800 (approximately USD 0.03) per litre of diesel and mazut.
Since June 1, all RON 95-III mineral petrol has been blended with 10 per cent ethanol before being sold as E10, while E5 RON 92 will continue to be available until the end of 2030.
Speaking at a seminar on June 30, Nguyen Thanh Nam, deputy director of the Department of Domestic Market Management and Development under the Ministry of Industry and Trade, said the rollout of E10 had largely proceeded on schedule, with stable supplies and smooth distribution.
Between June 1 and June 24, Vietnam consumed around 850 million litres of biofuel, including approximately 800 million litres of E10, accounting for about 94 per cent of total consumption, while E5 accounted for around 50 million litres.
