Gasoline prices to fall sharply after gov’t cuts excise
Minister of Finance Bezalel Smotrich is expected to sign an order reducing excise by NIS 0.50 per liter.
On September 3, the Ministry of Industry and Trade and the Ministry of Finance raised domestic fuel prices to align with global market conditions. The cost of E5 RON92 gasoline increased by VND723 per liter, reaching VND22,486 (US$0.88), while E10 RON95-III saw a VND672 per liter rise, bringing the price to VND23,274 (US$0.91). Conversely, 0.05S diesel prices decreased by VND341 per liter to a maximum of VND27,743 (US$1.09), and 180CST 3.5S mazut fell by VND499 per kilogram, now at VND17,641 (US$0.69).
The fuel price hike was mandatory for fuel traders, who were required to contribute VND200 per liter for diesel and VND200 per kilogram for mazut to the Fuel Price Stabilization Fund. However, biofuel products were exempt from these contributions. During the adjustment period from August 27 to September 3, global refined fuel prices saw an average increase of 4.12 percent for RON92 and 4.04 percent for RON95. In contrast, diesel prices dropped by 1.14 percent, and mazut prices decreased by 4.16 percent.
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- Gasoline prices rise, diesel and mazut prices fall en.sggp.org.vn
