Vietnam Plans Temporary Relief on Electricity and Gasoline Costs

Vietnam Plans Temporary Relief on Electricity and Gasoline Costs

HANOI, October 31, 2026 — Vietnam is considering temporary reductions in electricity prices and special consumption taxes on gasoline to ease financial pressures on households and businesses.

Vietnamese Deputy Prime Minister Nguyen Van Thang has called on state-owned Vietnam Electricity (EVN) to review its operating expenses and maximise cost-saving measures to prepare a plan to reduce average retail electricity prices.

The proposed measures would cover the period from November 1, 2026, to March 31, 2027, with the aim of supporting household incomes, helping businesses manage operating costs and maintaining social welfare.

Government Considers Zero Tax on Gasoline

According to Vietnamese media reports, EVN has been asked to submit a proposal outlining possible reductions in electricity prices.

Authorities are also considering lowering the Special Consumption Tax on all types of gasoline to zero percent (0%) during the same five-month period.

The proposed tax reduction is intended to ease fuel expenses for consumers and businesses amid broader efforts to reduce the cost of living and support economic activity.

Measures Aim to Support Households and Businesses

The proposed electricity and fuel tax adjustments reflect the government’s efforts to reduce financial pressures on households and businesses.

If implemented, the measures would provide temporary relief by lowering electricity and fuel-related expenses between November 2026 and March 2027.

However, the proposals are still under consideration, and the final details of the electricity price reductions and fuel tax measures have yet to be announced.