Half of retail petrol prices taxes and additional costs

Ministry data showed that the import price for each barrel of RON 92 on March 18 was $53.61, equivalent to VND7,527 per liter. This leaves a margin between the retail price of VND7,900.

However, Vietnam’s retail oil product prices are lower than some neighboring countries, according to statistics from Global Petro Prices.

“The reason [prices are lower in Vietnam] is that these other countries have higher additional fees in their retail price structure,” a Ministry of Finance spokesperson said.