Vietnam freezes fuel taxes until April 15th to address rising oil prices caused by Middle East conflicts

MaticHoleFiller · 2026-03-27T15:04:51+00:00

The Vietnamese government has decided to freeze certain taxes on gasoline, diesel, and aviation fuel until April 15th in response to the escalation of conflicts in the Strait of Hormuz, ensuring national security and market stability. This measure is expected to increase fiscal expenditure by 7.2 trillion VND per month, while gasoline and diesel prices will be slightly reduced to ease the burden on the public.

MaticHoleFiller

2026-03-27 15:04:51

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On Friday, the Vietnamese government website issued a statement saying that in response to the escalation of the conflict in the Strait of Hormuz, to stabilize the domestic market and ensure national security, Vietnam will freeze part of the taxes on gasoline, diesel, and aviation fuel until April 15.

The environmental protection tax rate on gasoline, diesel, and aviation fuel is 0 Vietnamese dong per liter, and the special consumption tax on gasoline is also 0%. The input value-added tax on gasoline, diesel, and aviation fuel is deductible.

This move is expected to increase the national fiscal expenditure by an average of 72 trillion Vietnamese dong (approximately $2.73 billion) each month.

Vietnam also announced that the price of RON-95 gasoline will be reduced by 5,625 Vietnamese dong per liter, reaching a maximum of 24,332 Vietnamese dong per liter, effective from Friday. The price of RON-92 gasoline will be reduced by 4,749 Vietnamese dong per liter, to 23,326 Vietnamese dong per liter. The prices of diesel and kerosene have been reduced by 2,459 Vietnamese dong and 971 Vietnamese dong per liter, respectively.

Large amounts of information and precise interpretations can be found in the Sina Finance APP.

Editor: Yu Jian SF069

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