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For diesel, the import tax was slashed down from 5% to 3%. However, the MoF still maintains 5% import duty for lubricating oil and imposes 15-20% tariff on waste oil products.
The petrol import tariffs of 4-5% have been applicable over the past two months, but in the wake of increasing pressure of global fuel price hike and local inflation, the MoF had to make necessary cuts ./.
By Khánh Phương