After reaching an agreement with Ministry of Industry and Trade, Ministry of Finance (MoF) has issued a Notice No. 216 on requiring major distributors to reduce fuel price in domestic market (include VAT).

Accordingly, gasoline price reduces by VND600 to VND22,700 a liter from VND23,300 a liter as prior; 0,05S diesel price also downs by VND400 to VND21,200 a liter from VND21,600 a liter; Kerosene price drops by VND300 to VND21,100 a liter; Mazut price falls by VND300 to VND18,900 a liter from VND19,200 a liter.

Beside that, MoF also requires distributors keep stable the price stabilization fund of fuel products at VND300 a liter as current regulations.

The effect of this Notice are applied for fuel poducts since 3h30 pm on May 23rd, 2012.

In addition, MoF also decides to raise the import tax rates partially.
In detail, the import tax rate of gasoline lifts to 4% from 2%, diesel import tax rate ups to 3% from 1%; kerosene and mazut import tax rates increase to 5% from 3% as before.

Xangdau.net