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Tuesday,  Apr 24,2018,13:58 (GMT+7)

Lower tax helps reduce E5 bio-fuel price

Thursday,  Jan 11,2018,18:09 (GMT+7)
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Lower tax helps reduce E5 bio-fuel price

HCMC - The Government has offered a couple of incentives to encourage consumption of E5 bio-fuel, said Nguyen Phu Cuong, deputy head of the Science and Technology Department under the Ministry of Industry and Trade.

Cuong told a conference on E5 bio-fuel on January 10 that the environmental protection tax on E5 bio-fuel is much lower than fossil fuels, and the Ministry of Industry and Trade has suggested the Government further lower this tax for E5 bio-fuel to reduce its retail price.

On average, the tax on E5 is VND500 per liter lower than that of fossil gasoline, making E5 more competitive. At present, E5 is sold at VND18,243 (US$0.8) per liter, nearly VND2,000 lower than RON 95 gasoline.

According to Cuong, incentives for E5 bio-fuel shall be maintained in the coming time even when it becomes more popular.

Since E5 began replacing RON 92 gasoline early this year, drivers have complained that E5 makes their vehicles less efficient, according to news website Dan Tri.

However, Pham Huu Tuyen from the School of Transportation Engineering under the Hanoi University of Science and Technology said experiments show E5 improves engine performance by 3-5% and fuel efficiency by 2-3% compared to fossil fuels. Many users still doubt this assertion, as the bio-fuel is said to have lower energy content than the fossil fuel of the same standard.

E5 is a mixture of RON 92 gasoline and 5% ethanol.

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