{
    "success": true,
    "data": {
        "id": 1598353,
        "msgid": "vietnam-mulls-removing-fuel-duties-as-war-on-iran-hits-supplies-1773035620",
        "date": "2026-03-09 11:53:46",
        "title": "Vietnam mulls removing fuel duties as war on Iran hits supplies",
        "author": "",
        "source": "CNA",
        "tags": "Asia ,Sustainability",
        "topic": "Trade",
        "summary": "Vietnam's finance ministry has drafted a decree to eliminate import tariffs on petroleum products in response to Middle East tensions disrupting global oil supplies and pushing domestic fuel prices to their highest levels since July 2022. The government aims to stabilise domestic energy markets and ensure national security, with the tariff exemption set to remain in effect until the end of April amid concerns that further conflict could trigger further price increases.",
        "content": "<p>Vietnam mulls removing fuel duties as war on Iran hits supplies<\/p>\n<p>HANOI: Vietnam is considering a plan to scrap tariffs on fuel\nimports, the government said, as the US-Israeli war with Iran disrupts\noil supplies and pushes prices to their highest level since 2022.<\/p>\n<p>The ministry of finance said on Sunday (Mar 9) it had drafted a\ndecree that would slash import tax rates to zero on some petroleum\nproducts to \u201chelp stabilise the domestic market and ensure national\nenergy security\u201d.<\/p>\n<p>\u201cIf the conflict continues and the blockade of the Strait of Hormuz\npersists, alternative supplies on the international market will become\nscarce and risk driving prices up,\u201d it said in a statement, referring to\nthe waterway through which a fifth of global crude passes.<\/p>\n<p>Since the war began more than a week ago with US and Israeli strikes\non Iran, prices of fuel in Vietnam have risen sharply and the government\nhas implemented emergency pricing protocols.<\/p>\n<p>The cost of the most widely used grade of gasoline has risen 21 per\ncent to 27,040 Vietnamese dong (US$1.03) per litre - the highest since\nJuly 2022, state media reported.<\/p>\n<p>According to the finance ministry\u2019s proposal, which must be approved\nby the government, the tariff decree would be effective until the end of\nApril.<\/p>\n<p>The crisis in the Middle East has seen crude prices soar to nearly\nUS$120 a barrel, the highest since Russia\u2019s invasion of Ukraine in early\n2022.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/vietnam-mulls-removing-fuel-duties-as-war-on-iran-hits-supplies-1773035620",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}