Updated  
July, 04 2012 10:24:47

Oil import taxes up, petrol prices down

HA NOI — Import taxes on some petroleum products yesterday increased by 2 per cent, the Ministry of Finance announced. It was the fifth time that fuel taxes have changed this year.

According to Circular 109/2012/TT-BTC, tariffs on RON 97 Oil, naphtha, reformate and alpha olefin rose from 10 per cent to 12 per cent.

Diesel tax was increased to 10 per cent from 8 per cent and the tariffs on aeroplane fuel and kerosene also rose by 2 per cent to 12 per cent.

On Monday, the Ministry of Industry and Trade and the Ministry of Finance cut retail prices of petrol, kerosene and oil on the domestic market following a fall in world oil prices. The price for A2 petrol dropped by VND600 per litre to VND20,600 (US$0.98) and by VND300 per litre to VND17,650 for fuel oil.

Diesel oil prices fell by VND200 per litre to VND19,900 – and kerosene fell to VND20,050.

Tran Ngoc Nam, deputy general director of the Viet Nam National Petroleum Group (Petrolimex), said on Monday that on the world market, the price of crude oil fell by 1.73 per cent to $83 per barrel against the previous day, the lowest rate since April last year. — VNS

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