Previously, kerosene was among key fuel products, alongside petrol, diesel, and mazut, used to determine the base price as a benchmark for managing retail petrol and oil prices.

The ministry said that it is also preparing to formally exclude kerosene from the base pricing mechanism.

The move is a part of broader policy adjustments aimed at easing cost pressures from rising oil prices and supporting economic growth.

Earlier, the Government approved sweeping tax reductions on fuel products, including cutting the environmental protection tax, value-added tax, and excise tax on petrol to zero from March 27 to April 15, with a proposed extension through June 30./. VNA