Fuel Prices Drop as Value-Added Tax Reduction Sparks Savings for Consumers!
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Retail fuel prices have seen a reduction as a result of a newly implemented National Assembly resolution on value-added tax.
Starting Tuesday, the maximum retail price of biofuel E5 RON92 is now set at VND20,530 (approximately US$0.79) per liter, marking a 1.82% decrease from the previous day. It’s a welcome change for consumers now primarily relying on their fuel budgets for summer road trips.
The price of RON95 fuel has also been adjusted, now capped at VND21,116, reflecting the same reduction of 1.82%. Meanwhile, diesel will be selling for no more than VND19,349 per liter, down 1.95%. The price of mazut has been decreased by 1.82%, bringing it to VND16,955 per kilogram.
Questions & Answers
Q.What prompted the recent reduction in fuel prices?
What prompted the recent reduction in fuel prices?
The reduction is a direct result of a newly enacted National Assembly resolution that lowered value-added tax.
Q.How much have prices decreased for different types of fuel?
How much have prices decreased for different types of fuel?
The maximum retail price for E5 RON92 biofuel dropped by 1.82%, while RON95 remained at the same percentage decrease. Diesel saw a 1.95% reduction, and mazut also decreased by 1.82%.
Q.When did the new fuel prices take effect?
When did the new fuel prices take effect?
The new retail fuel prices took effect on Tuesday following the announcement from the National Assembly.
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