Based on the direction of the Ministry of Industry and Trade - Ministry of Finance, petroleum businesses will simultaneously adjust petroleum prices from 3:00 p.m. today (January 16).

Compared to 7 days ago, in today's adjustment period, the price of E5 gasoline was adjusted up by 140 VND/liter, to 20,570 VND/liter. The price of RON 95 gasoline was also increased by 210 VND/liter, the selling price is 21,220 VND/liter.

Similarly, diesel price was adjusted up by VND540/liter, selling price up to VND19,780/liter.

Like previous operating periods, in today's operating period, the Ministry of Industry and Trade - Ministry of Finance did not allocate or spend from the Price Stabilization Fund for petroleum products.

In the operating session last week (January 9), gasoline prices were also adjusted upward.

Accordingly, the price of E5 gasoline increased by 380 VND/liter, to 20,430 VND/liter. The price of RON 95 gasoline increased by 270 VND/liter, the selling price is 21,010 VND/liter.

Following the same trend, diesel price increased by 490 VND/liter, selling price up to 19,240 VND/liter.

Regarding the petroleum market, according to the resolution of the National Assembly Standing Committee, in 2025, the environmental protection tax on gasoline (except ethanol) will remain at VND2,000/liter. This tax rate for jet fuel, diesel, fuel oil, and lubricants is VND1,000/liter; grease is VND1,000/kg; and kerosene is VND600/liter.

The Ministry of Finance estimates that with the above environmental protection tax on gasoline, the State budget will reduce revenue by about VND 44,224 billion in 2025. However, this will be direct support from the State to help people and businesses recover, develop production, business, and develop the socio-economy.

Evaluating the results of the implementation of the policy to reduce environmental protection tax on gasoline, oil, and grease from 2022 to present, the Ministry of Finance said that the process of implementing the policy to reduce environmental protection tax on gasoline, oil, and grease has had positive impacts on the economy in contributing to the goal of controlling inflation and stabilizing the macro economy, because environmental protection tax on gasoline, oil, and grease is a factor that constitutes the base price of gasoline and oil in the country.

Adjusting the environmental protection tax rate for this item will directly affect the domestic retail price of gasoline and oil, thus also affecting the CPI. Therefore, this is considered a tool to control inflation.

Domestic gasoline prices may increase for the third consecutive time tomorrow . Domestic gasoline prices tomorrow (January 16) are forecast to increase for the third consecutive time. If the Price Stabilization Fund is not affected, gasoline prices may increase by 250-300 VND/liter, diesel prices are likely to increase even more.