HCMC – The Ministry of Finance has proposed extending the 0% import tariff on gasoline, diesel and select petroleum feedstocks until June 30 to ease cost pressures on consumers and businesses.
In an appraisal document for a draft Government resolution, the ministry said it wants a validity extension of Decree 72/2026, which lowers most-favored-nation (MFN) import tariffs on some fuel products to zero until the end of June.
It also proposed expanding the list of items eligible for the 0% rate to include three additional feedstock tariff lines used in production at the Nghi Son Refinery, instead of the current 5% rate.
The finance ministry estimated the two-month extension would reduce state budget revenue by about VND997 billion, bringing the total revenue impact since the policy began to roughly VND2 trillion.
The proposal comes as the current 0% import tariff on various petroleum products and blending materials such as naphtha, reformate and condensate is due to expire on April 30.
Officials said this would make life difficult for companies planning imports and negotiating contracts for fuel shipments scheduled for May and June.
After the preferential import tariff on fuel products was cut to zero on March 9, businesses gained greater access to alternative supply sources as traditional supply chains from markets. Domestic fuel supply was therefore maintained, helping stabilize the petroleum market and the broader economy.
In addition to import tariffs, several other taxes on fuel products, including environmental protection tax, value-added tax and special consumption tax, have also been reduced to zero through the end of June under a resolution passed by the National Assembly.
Retail prices currently stand at VND23,760 per liter for RON 95-III gasoline, a commonly used grade, and VND31,040 per litre for diesel, up nearly 18% and 61% respectively from late February, when the Middle East conflict erupted.
