Fuel prices drop sharply starting today, and a series of taxes reduced to 0%.

From 00:00 on March 27, 2026, the environmental protection tax will officially be 0 VND, the special consumption tax will be 0%, and there will be no requirement to declare or calculate VAT for gasoline, diesel fuel, and aviation fuel.

This is stated in Decision No. 482/QD-TTg on the application of environmental protection tax, value-added tax, and special consumption tax on gasoline, diesel, and aviation fuel when necessary for the national interest, issued on the evening of March 26.

Specifically, gasoline, diesel fuel, and aviation fuel are exempt from value-added tax (VAT) declaration and payment, but are eligible for input VAT deduction, and are subject to an environmental protection tax rate of 0 VND/liter.

The decision also reduces the excise tax rate on all types of gasoline to 0%. The decision will be in effect until April 15, 2026.

The tax rate and implementation period as described above are expected to reduce state budget revenue by an average of approximately 7,200 billion VND per month. However, this will be a significant amount of money to help people alleviate difficulties and boost production and business for enterprises.

Amid escalating tensions in the Strait of Hormuz, which have driven up international and domestic oil prices, the issuance of this decision is a necessary step to stabilize the petroleum market and ensure national energy security.

Previously, the government had implemented various other measures to support the domestic market. Most recently, Prime Minister Pham Minh Chinh directed the Ministry of Industry and Trade to urgently work with foreign partners to build a strategic petroleum reserve at Nghi Son.