Latest data showed that the amount of gasoline E5 RON92 consumed across the nation in the first three months of this year was around 740,000 cubic meters, or 37.8 percent of total amount of gasoline.

Currently, the environmental protection tax rate of gasoline E5 RON92 is VND 3,800 per liter, or 95 percent of tax rate of fossil fuel RON92. In order to encourage consumption of gasoline E5 RON92, the ministry said that the Government should increase the gap between two types of gasoline by adjusting environmental protection tax rate of E5 RON92 gasoline for environmental purpose.

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Photo: baocongthuong.vn

Earlier, some fuel wholesalers also asked for reduction in environmental protection tax for E5 RON92 gasoline due to its decreasing consumption, especially since the beginning of this year. Therefore, several gas stations have neglected to sell E5 RON92 gasoline. Some even have removed their E5 RON92 gasoline dispensers and shifted to sell fossil gasoline RON95.

On May 17, the ministries of Finance and Industry and Trade cut the price of RON95-III gasoline by VND592 per liter to VND 21,599 per liter. The price of E5 RON92 gasoline was down VND 200 per liter to VND 20,488 per liter. Diesel oil dropped VND 81 per liter to VND 17,614 per liter. Kerosene slid VND 203 per liter to VND 16,422 per liter. Mazut oil fell VND 466 per kilogram to VND 15,536 per kilogram.

Meanwhile, the setting up level of the fuel price stabilization fund was VND 100 per liter for E5 RON92 and VND 300 per liter for RON95 gasoline and other kinds of oil.

Allocations of E5 RON92 gasoline were VND 457 per liter and those of RON95 gasoline were VND 0 per liter.

Source: SGGP