Half of retail petrol prices taxes and additional costs

By Bui Hong Nhung, Bach DuongMarch 22, 2016 | 06:45 pm PT
A liter of gasoline RON 92 is currently sold at VND14,420, of which VND7,900 is taxes and additional costs, according to calculations by VnExpress based on information from the Ministry of Industry and Trade.

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.

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