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Fuel prices rise again after four cuts

HCMC – After dropping four times in a row, fuel prices saw an uptick yesterday, January 1.

RON 95-III now sells for VND21,800 per liter, up VND1,100 against the earlier session, and E5 RON 92 is priced at VND21,020, increasing nearly VND1,050.

Diesel oil rose by VND550 to VND22,150 per liter, while kerosene edged up VND330 to VND22,160 per liter.

Heavy oil also inched up by VND770 to VND12,860 per kilogram.

A new environmental protection tax will be applied.

According to the Ministry of Industry and Trade, the National Assembly’s steering committee has approved Resolution 30/2022, amending the environmental protection tax on gasoline and oil products.

Accordingly, the new rate for gasoline products, except for ethanol, increased by VND1,000, as prescribed in Resolution 20/2022, to VND2,000.

The tax on diesel oil and kerosene rose by VND500 and VND300 to VND1,000 and VND600 per liter, respectively, while heavy oil, lubricating oil and grease inched up VND700 to VND1,000 per liter or kilogram each.

The rate for jet fuel remains the same, at VND1,000 per liter.

The resolution took effect on January 1, 2023, and will expire on December 31.

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