Gasoline special consumption tax rates of 7%–10% fall to zero through 31 March 2027. The average electricity tariff falls 2% to 2,159.9 dong per kWh, excluding VAT, under measures effective 1 November 2026.
Vietnam’s government announced on 31 October that it was removing gasoline special consumption tax and lowering the average retail electricity tariff to 2,159.9 dong per kWh, excluding VAT, effective 1 November 2026. The government said the measures were intended to reduce costs for households and businesses, support social welfare and business activity, and maintain economic stability, CNA said.
The decision followed an October 27 meeting at which Deputy Prime Minister Nguyen Van Thang asked Electricity of Vietnam to review costs and prepare a price-reduction plan for review by the Ministry of Industry and Trade.
The average retail electricity tariff falls 2% from the existing average to 2,159.9 dong per kilowatt-hour, a unit of electricity use. The amount excludes value-added tax, or VAT.
That average is not a single rate charged to every customer. Vietnam’s Ministry of Industry and Trade issued Decision 2892/QĐ-BCT on 31 October 2026, setting electricity prices for different customer groups and electricity retailers from 1 November. Electricity of Vietnam said it had reviewed its calculations and maximized cost savings under government and ministerial direction.
For gasoline, special consumption tax rates of 7%–10% are reduced to zero. The government’s announcement does not specify an equivalent reduction in gasoline pump prices.
Vietnam targets economic growth above 10% in 2026. Fourth-quarter growth would need to exceed 12.5% to reach that target.
The gasoline tax suspension is scheduled to end on 31 March 2027. The government says it will consider extending the policy depending on circumstances.
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