Gasoline prices are expected to decrease deeply in the adjustment session on July 11

After a slight decrease in the previous adjustment session, gasoline prices are predicted to enter a downward trend and decrease deeply in the upcoming adjustment session on July 11.

The main reason for the deep reduction in gasoline prices in this revision is that on July 6, the National Assembly Standing Committee passed a Resolution on environmental protection tax on gasoline.

Specifically, the environmental protection tax rate for the petroleum group is adjusted to the floor level (lowest level in an adjustment) of the tax bracket until December 21, 2022. Accordingly, the tax on gasoline (except ethanol) decreased from 2,000 VND/liter to 1,000 VND/liter, diesel decreased from 1,000 VND to 500 VND/liter, and fuel oil decreased from 1,000 VND/liter to the floor of 300 VND/liter. .

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Thanks to tax adjustments, gasoline prices in the adjustment session on July 11 are expected to have deep drops.

Besides, according to the Ministry of Industry and Trade, the price of gasoline imported from Singapore in our country has dropped sharply to just over 145 USD/barrel.

From the combination of environmental protection tax reduction and lower imported gasoline prices, retail gasoline prices may decrease from 700-1,500 VND/liter in the price adjustment session on July 11.

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Update on current gasoline and oil prices, after the previous adjustment session, gasoline prices have decreased but not much: RON 95 gasoline is at 32,763 VND/liter, RON 92 gasoline is at 30,891 VND/liter, oil DO 0.05s-II costs 29,615 VND/liter.

According to the predicted decrease, gasoline prices after the upcoming adjustment session will likely drop to more than 30,000 VND/liter.

This is a good sign for consumers, especially those who are in the transportation service business.

The exact gasoline price after the adjustment session on July 11 will be updated as soon as possible.

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