Vietnam Cuts Gasoline Excise Tax to Zero, Pump Prices Fall From Nov 1
Vietnam has cut the special consumption tax on gasoline to 0 percent through March 31, 2027, lowering E5 RON 92 and E10 RON 95-III prices from November 1.
- Resolution No. 45/2026, signed on October 31, cuts the special consumption tax on all gasoline types to 0 percent from November 1 through March 31, 2027.
- E5 RON 92 fell VND1,804 to VND24,223 per liter, and E10 RON 95-III fell VND1,575 to VND24,159 per liter.
- EVN also announced a 2 percent cut in average retail electricity prices from November 1.
Vietnam cut the special consumption tax on all types of gasoline to 0 percent from November 1, 2026, and pump prices fell accordingly, Tuoi Tre News reported. Deputy Prime Minister Nguyen Van Thang signed Resolution No. 45/2026 on October 31, and the relief runs through March 31, 2027.
New prices from midnight on November 1
The Ministry of Industry and Trade announced the following retail prices:
- E5 RON 92: down VND1,804 to VND24,223 per liter
- E10 RON 95-III: down VND1,575 to VND24,159 per liter, about VND64 cheaper than E5 RON 92
- Diesel: VND30,246 per liter
Gasoline had risen by VND500 to VND700 per liter on October 29. Under the Special Consumption Tax Law effective July 1, the standard rates are 10 percent for conventional gasoline, 8 percent for E5 and 7 percent for E10. The government may shorten or extend the relief depending on economic conditions, energy security and fuel market developments.
Separately, Vietnam Electricity Group (EVN) announced a 2 percent cut in average retail electricity prices, effective November 1.
What it means for residents
For anyone in Ho Chi Minh City who commutes by motorbike or car, the cut lowers the cost of each fill-up, and the electricity reduction trims household bills slightly. The tax relief is scheduled to end on March 31, 2027 unless it is extended.
Source: Tuoi Tre News.
Tuoi Tre News · Published Nov 1, 2026
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