Hung Yen voters proposed that the Government direct ministries and sectors to have more flexible price management mechanisms, consider further reducing taxes and fees in the gasoline and oil price structure when the world market fluctuates strongly to stabilize the market, psychology and support production for people.
Answering this content, the Ministry of Finance said that in the past, the Middle East conflict disrupted the Strait of Hormuz - where 84% of oil flows to Asia - causing energy prices to fluctuate sharply.
The supply of gasoline and oil is disrupted, world crude oil prices tend to increase, pushing the consumer price index (CPI) and domestic living costs up.
Faced with that situation, the Government has directed ministries, branches, and localities according to their functions and tasks to promote urgent solutions to ensure supply for production, business and consumption of people and businesses, requiring businesses to diversify the import market for raw materials and finished gasoline and oil products.
The Government has directed the Ministry of Industry and Trade and the Ministry of Finance to have a price management mechanism as well as a flexible and timely tax reduction policy for gasoline and oil to contribute to supporting the reduction of domestic gasoline and oil selling prices and market stability.
Regarding the mechanism for managing gasoline and oil prices, the Ministry of Finance said that Clause 30, Article 1 of Decree No. 95/2021/ND-CP amending and supplementing a number of articles of Decree No. 83/2014/ND-CP on gasoline and oil business, the Ministry of Industry and Trade is assigned the task of presiding over the management of gasoline and oil selling prices, managing the establishment and use of the gasoline and oil price stabilization fund, and the Ministry of Finance coordinates according to its functions and tasks.
Accordingly, in the context of world crude oil prices tending to increase due to conflicts in the Middle East, the Government has issued Resolution No. 36/NQ-CP and Resolution 55/NQ-CP.
In which, the law stipulates that management is carried out immediately after the base price date for one of the gasoline and oil items announced prices increases by 15% or more and decreases by 10% or more to promptly adjust the selling prices of gasoline and oil items in accordance with the actual situation in the country.
In its role as the coordinating agency for price management, the Ministry of Finance has submitted to the Government for promulgation Resolution No. 69/NQ-CP on the implementation of advance payments for the gasoline and oil price stabilization fund (BOG) from the increase in central budget revenue (NSTW) in 2025.
On that basis, the Prime Minister issued Decision No. 483/QD-TTg on supplementing 8,000 billion VND of the state budget expenditure estimate for 2026 from the source of increased central budget revenue in 2025 for the Ministry of Industry and Trade to advance to the petroleum BOG Fund.
Accordingly, the Ministry of Industry and Trade has proactively issued decisions on stabilizing gasoline and oil prices, operating only using the Price Stabilization Fund to support price reductions for gasoline and oil products when gasoline and oil prices increase sharply, contributing to stabilizing prices of essential and important goods, supporting production, business and people's lives.
Regarding tax and fee policies for gasoline and oil, the Government has assigned the Ministry of Finance to coordinate with the Ministry of Industry and Trade and relevant ministries and sectors to submit to competent authorities for promulgation Decrees and Resolutions to reduce taxes applied to gasoline, oil and raw materials for gasoline and oil production, such as Decree No. 72/2026/ND-CP of the Government reducing the preferential import tax rate for some types of gasoline, oil, and raw materials for gasoline and oil production to 0%, effective until April 30, 2026.
Resolution No. 25/2026/NQ-CP dated April 30, 2026 of the Government on extending the application period of Decree No. 72/2026/ND-CP to the end of June 30, 2026 and adding some raw materials for gasoline and oil production to the subjects subject to preferential import tax reduction to 0%.
Resolution No. 19/2026/QH16 dated April 12, 2026 of the National Assembly on promulgating a number of regulations on environmental protection tax, value-added tax, special consumption tax on gasoline, oil and aviation fuel, accordingly reducing the domestic taxes constituting gasoline and oil prices to 0 VND (environmental protection tax), 0% (special consumption tax) and not taxable (value-added tax), effective until the end of June 30, 2026.
Based on assessing the developments of the gasoline and oil market, the impact on inflation, state budget revenue and directing opinions on advising on gasoline and oil tax policies in a direction suitable to the price level before the conflict occurred plus inflation factors, the Ministry of Finance has submitted to the Government for promulgation Resolution No. 34/2026/NQ-CP dated June 30, 2026 of the Government on extending the duration of applying preferential import tax, environmental protection tax, value-added tax on gasoline, oil, raw materials for gasoline, oil and aviation fuel.
In which, the Government allows to extend the duration of applying preferential import tax on gasoline, oil, and raw materials for gasoline and oil production according to Resolution No. 25/2026/NQ-CP dated April 30, 2026 of the Government and Decree No. 72/2026/ND-CP dated March 9, 2026 of the Government and extend the duration of application of environmental protection tax and value-added tax on gasoline, oil, raw materials for gasoline, oil and aviation fuel according to Resolution No. 19/2026/QH16 dated April 12, 2026 of the National Assembly until the end of September 30, 2026 to support the production and business activities of people and businesses, stabilize gasoline and oil supply, and maintain the goal of curbing inflation.
Current law on fees and charges does not stipulate any fees or charges in the structure of gasoline and oil prices.
