MoF Cuts Gas Import Tariff
The Ministry of Finance (MoF) has removed the 5% import tariff on gas in a bid to lower retail prices.
The MoF also instructed relevant agencies to supervise price reductions by the retailers and punish infringements.
The tax cut was made after the price of domestic cooking gas hit a record high of VND 52,000 per 12kg cylinder on March 1.
The retail price of cooking gas sold by Saigon Petro, Gia Dinh Gas, Vinagas, and VT Gas, ranged from VND 477,000 to 480,000 per 12kg cylinder.
This year, cooking gas prices have increased four times.
City dwellers are now shifting to electric and magnetic cookers as alternatives, while people in the countryside have returned to charcoal and firewood.
VGP
Vietnamese
