Gasoline prices may fall below 22,000 VND/liter

Combined with falling oil prices and adjusted gasoline import taxes, it is possible that in the next operating period there will be a relatively sharp decrease in fuel prices.

Specifically in the world, oil prices are below the threshold of 90 USD/barrel, the lowest level in the past 6 months. In addition, the price of imported gasoline has also been reduced to close to 100 USD/barrel. According to many data, world oil prices are currently approaching the price level before the Russia-Ukraine conflict broke out in early February. Therefore, it can be speculated that in the upcoming operating period, gasoline prices will decrease. strong.

In addition, the price of finished gasoline in Singapore has also reached below 100 USD/barrel and according to data from the Ministry of Industry and Trade, the price of gasoline imported from Singapore as of August 7 has decreased to 103 USD/barrel. This is the lowest price in the past 7 months. This import price is equivalent to the price at the end of January, when the retail gasoline price was 24,360 VND/liter. Thus, if the environmental protection tax of 3,300 VND is subtracted, the price of imported gasoline is currently just over 21,000 VND/liter.

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In addition, the Government has just issued Decree No. 51 amending the preferential import tax rates for gasoline products in the preferential import tax schedule according to the list of taxable items. Specifically, the preferential import tax rates (MFN) for gasoline products belonging to (group 27.10) specified in the preferential import tariff according to the list of taxable items will be amended to import tax rates. new preferential export. Accordingly, the import tax rate on unleaded motor gasoline is adjusted from 20% to 10%. This is an increased adjustment compared to the previous proposal of 8%.

Therefore, on August 11, gas prices will enter a new adjustment period. Therefore, the sharp decrease in imported gasoline prices will be the basis for domestic gasoline prices to continue to decrease. However, the specific reduction depends on fluctuations in world gasoline and oil prices in the next few days as well as the level of deduction and expenditure of the Petroleum Stabilization Fund of the executive agency.

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