The import tax for gasoline was reduced to 12 percent from 17 percent, Deputy Finance Minister Tran Van Hieu decided on December 1.
The import taxes for diesel and kerosene were also cut a half, from the current rate of 10 percent to 5 percent.
Some fuel traders including state-owned giant Petrolimex earlier asked the Ministry of Finance to cut the taxes.
They said the import taxes for gasoline at 17 percent and for diesel and kerosene at 10 percent were high and had not been changed since April. This means they are incurring losses due to high world oil prices.
