Vietnam's pump prices fell to their lowest since Feb. 12 on Thursday as fuel benchmarks declined amid reports that Washington had deferred further strikes against Iran.
E10 RON95 cost VND 19,840 per liter, down 6.19% from a week earlier, while E5 RON92 fell 7.18% to VND 19,390. Diesel dropped 7.39% to VND 26,820, VnExpress reported.
The outlet said the RON95 benchmark declined 6.9% to $106 per barrel and diesel fell 6.9% to $152.30. Its account of global market conditions also cited continuing attacks on oil tankers in the Strait of Hormuz and reports about the U.S. postponing new attacks on Iran.
Vietnam's zero gasoline special consumption tax through March 31, 2027 is expected to reduce state revenue by more than VND 7.67 trillion, VnExpress reported.
The Ministry of Industry and Trade is collecting feedback on a draft fuel-trading decree, the outlet said. The proposal would let major suppliers determine pump prices using a formula set by the rules; under the current system, government officials adjust prices periodically.
