After petrol prices were cut VND310 a liter on January 6, the Ministry of Finance has issued a circular affective the following day to increase import tariffs on petrol products by 7-9 percent.
The new import tariffs are from 30-35 percent. Tax on gasoline is the highest with 35 percent. The maximum tariff rate was capped 40 percent for petrol products by the ministry in 2010.
With the above tariff hike, a gasoline liter now carries nearly VND9,000 taxes and fees including import tariffs, special consumption tax and environmental protection fee.
Petrol prices reduce extra of VND310 a liter