Update on gasoline and oil prices on February 12th: Inverting direction

At 6:30 PM on April 12, WTI oil price was at 96.57 USD/barrel, down 1.30 USD/barrel, equivalent to a decrease of 1.33%. Brent oil was at 95.20 USD/barrel, down 0.72 USD/barrel, equivalent to a decrease of 0.75%.

Oil prices recorded the biggest weekly drop since 2022 ahead of negotiations between Iran and the US to reach a permanent ceasefire agreement.

In the price adjustment session last week on April 9, 2026, the world gasoline and oil market was affected by key factors such as: Military conflict between the US, Israel and Iran; temporary ceasefire between the US and Iran; military conflict between Russia and Ukraine still taking place... The above factors caused the world finished gasoline and oil prices on April 8, 2026 to decrease sharply.

On April 11, 2026, domestic gasoline and oil prices will be applied at:

- E5RON92 gasoline: not higher than 22,344 VND/liter, lower than RON95-III gasoline by 1,199 VND/liter;

- Gasoline RON95-III: not higher than 23,543 VND/liter;

- Diesel oil 0.05S: not higher than 32,969 VND/liter;

- 180CST 3.5S fuel oil: not higher than 22,613 VND/kg.

According to the Ministry of Industry and Trade, Vietnam's gasoline and oil prices are currently at an average level and lower than countries sharing a common border.

This morning, April 12, the National Assembly passed a Resolution on environmental protection tax, value-added tax (VAT), and special consumption tax on gasoline, oil and aviation fuel.

Accordingly, environmental protection tax on gasoline (excluding ethanol), diesel oil, aviation fuel, kerosene and mazut oil is 0 VND. Special consumption tax on all types of gasoline is also reduced to 0%. Gasoline, diesel oil and aviation fuel are not subject to VAT declaration and payment but are still subject to input deductions. This policy applies from April 16 to June 30.

Business establishments and enterprises importing gasoline, petroleum products (diesel, kerosene, mazut) and aviation fuel are not required to declare and calculate VAT when selling and at the import stage. In case of emergency, the Government is allowed to adjust (shorten or extend) the application time of this policy, and report to the National Assembly at the nearest session.

According to data from the Ministry of Industry and Trade, in the base price structure of gasoline and oil, VAT accounts for about 7.4%; environmental protection tax 2.7-6%, and special consumption 6.7%. Therefore, reducing all these taxes to 0 by the end of June is a solution to ensure this year's socio-economic development goals and control inflation.