Update on gasoline and oil prices on April 16: World oil prices rebound

At 7:25 PM on April 16, WTI oil price was at 91.53 USD/barrel, up 0.24 USD/barrel, equivalent to an increase of 0.26%. Brent oil was at 95.80 USD/barrel, up 0.87 USD/barrel, equivalent to an increase of 0.92%.

Oil prices rose on Thursday, reversing the previous downward trend as the market questioned whether peace talks between the US and Iran would reach an agreement to end the war that disrupted energy supplies from the Middle East.

The world gasoline and oil market in this operating period is influenced by key factors such as: the US deploying measures to blockade the Strait of Hormuz; expectations for further negotiations between the US and Iran to end the conflict; military conflict between Russia and Ukraine still taking place... The above factors have caused world finished gasoline and oil prices in recent days to increase and decrease depending on each item.

The selling prices of popular consumer gasoline and oil items on the market on April 16, 2026 are as follows:

- E5RON92 gasoline: not higher than 22,592 VND/liter (an increase of 248 VND/liter compared to the current maximum selling price), lower than RON95-III gasoline by 1,669 VND/liter;

- RON95-III gasoline: not higher than 23,761 VND/liter (an increase of 218 VND/liter compared to the current maximum selling price);

- Diesel oil 0.05S: not higher than 31,041 VND/liter (down 1,928 VND/liter compared to the current maximum selling price);

- 180CST 3.5S mazut oil: not higher than 20,332 VND/kg (down 2,281 VND/kg compared to the current maximum selling price).

Previously, on April 12, 2026, the National Assembly issued Resolution No. 19/2026/QH16 on promulgating a number of regulations on environmental protection tax, value-added tax, and special consumption tax on gasoline, oil and aviation fuel.

Accordingly, from 00:00 on April 16, 2026 to the end of June 30, 2026: the environmental protection tax rate for gasoline (except ethanol), diesel oil, kerosene, mazut oil and aviation fuel is 0 VND/liter; gasoline, diesel oil, kerosene, mazut oil and aviation fuel are not subject to declaration and payment of value-added tax but are eligible for input value-added tax deduction; the special consumption tax rate for all types of gasoline is 0%.

According to the Government's report, the reduction of environmental protection tax on gasoline (excluding ethanol), diesel oil, aviation fuel, kerosene and mazut oil to 0% is expected to reduce state budget revenue by an average of 7,300 billion VND/month. However, this is a special fiscal measure applied in a special context, aimed at limiting the impact of energy price fluctuations, contributing to macroeconomic stability and social security.