WTI oil price was at 67.67 USD/barrel, down 0.91 USD/barrel, equivalent to a decrease of 1.33%. Brent oil was at 70.71 USD/barrel, down 0.48 USD/barrel, equivalent to a decrease of 0.67%. On Thursday's trading day, world oil prices turned down slightly.
Regarding the domestic market, business representatives said that although international crude oil prices are increasing, retail gasoline and oil prices are forecast to continue to decrease in this afternoon's operating period thanks to Singapore's finished product prices still being low and tax exemption policies continuing to be maintained. Accordingly, domestic gasoline and oil prices may decrease from 50-700 VND/liter, depending on the item.
Selling prices of popular consumer gasoline and oil items on the market on July 2nd are as follows:
- E5 RON92 gasoline: not higher than 20,785 VND/liter, lower than E10 RON95-III gasoline by 418 VND/liter;
- E10 RON95-III gasoline: not higher than 21,203 VND/liter;
- Diesel oil 0.05S: not higher than 21,866 VND/liter;
- 180CST 3.5S mazut oil: not higher than 15,030 VND/kg;
Previously, on June 30, 2026, the Government issued Resolution No. 34/2026/NQ-CP on extending the application period of preferential import tax, environmental protection tax, and value-added tax on gasoline, oil, raw materials for producing gasoline, oil and aviation fuel (effective from July 1, 2026 to September 30, 2026).
Article 2 of Resolution No. 34/2026/NQ-CP stipulates: Extending the term of Resolution No. 19/2026/NQ-CP dated April 12, 2026 of the National Assembly to the end of September 30, 2026 for environmental protection tax and value-added tax specified in Article 1 and Article 2 of Resolution No. 19/2026/NQ-QH.
Clause 2, Article 3 of Resolution No. 34/2026/NQ-CP stipulates: Special consumption tax on gasoline is implemented according to the provisions of the Law on Special Consumption Tax No. 66/2025/QH15 and guiding documents for implementation.
Thus, from July 1, 2026 to the end of September 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.
From July 1, 2026, the special consumption tax on gasoline will be implemented according to the provisions of the Law on Special Consumption Tax No. 66/2025/QH15 and guiding documents for implementation (E5 gasoline: tax rate of 8%, E10 gasoline: tax rate of 7%).
