what does gasoline cost in hanoi, How much does a liter of gasoline cost in Hanoi, Vietnam?

What is the cost of gasoline in Hanoi?

Vietnam divides the refined oil prices into two regions. The first region is composed of 19 relatively developed economic provinces/municipalities: Hanoi, Ho Chi Minh City, Haiphong, and Quang Ninh. The second region is composed of 44 provinces located in mountainous border areas and islands such as Ha Giang and Cao Ping. The price of refined oil in Category II is approximately 2% higher than that in Category I. In April 2022, the average tax-inclusive price of 95-grade gasoline in Category I areas of Vietnam was 28,434 VND/liter; 92-grade gasoline was priced at 27,468 VND/liter, and the average price of light diesel was 25,530 VND/liter.

In Hanoi City (Vietnam), the gasoline prices vary considerably because of the various conditions such as the kind of petrol, the time, and the geographical localization. Rough estimates are:

1. Normal unleaded gasoline: Normal unleaded gas costs some VND 30,000 to VND 45,000, or USD 2.50 to USD 3.00/liter near busy intersections, along highways, and at bigger gas stations. This price encompasses both the regular and premium grades, made up of different sizes and types.

2. Premium unleaded gasoline: High-octane gasoline is generally sold as "premium," attracting a high price for it. Specialty fuels are generally upgraded with performance and economy-boosting additives. During peak hours, the cost of such high-octane gas reached USD 3.00 or VND 50,000 to VND 70,000 a liter.

The government of Vietnam has set a new scale of import duty rates on some products. For these products, gasoline has been set at 5.62%, while diesel will only be 0.58%. Recently, the Ministry of Finance, on July 4, 2023, put forward a central proposal in which gasoline is set at 5.62% on diesel at 0.58%, and heavy oil at 1.38% import duty to bring about the early cessation of quota importation on all oil products from the most important supplier countries into Vietnam in order to end their retail price drops for gasoline, a strategy aimed at reigniting the auto industry in Vietnam. According to analyses by Yuanzhe Consulting, in 2022, there were just below 30 cars for every 1,000 persons in Vietnam: a stark contrast to the normal figures of between 300-600 cars per 1,000 persons in many countries; thereby, further supporting the assertion that the Vietnamese auto market is poised for great growth.

Currently, the price for No. 92 gasoline is around 20,470 VND/liter, No. 95 is 21,400 VND/liter, and diesel No. 0 has very recently been adjusted to nearly 18,100 VND/liter.