On 1 November 2026, a set of energy cost measures took effect at the same time. Vietnam Electricity (EVN) cut its average retail power price by 2% to VND2,159.9 per kWh (excluding VAT), under Decision 2892/QĐ-BCT issued on 31 October. At the same time, the special consumption tax on petrol was reduced to zero under Resolution 45/2026/NQ-CP, in force until 31 March 2027. The 2% VAT reduction for eligible goods and services also remains in place until the end of 2026.
Concrete benefits
- Petrol: removing the excise tax is expected to lower retail prices by about VND1,500–1,700 per litre, directly cutting travel and transport costs.
- Electricity: the lower price applies to production, business and household use; for power-intensive industries such as steel, cement and textile dyeing, the savings are meaningful.
- Inflation: according to the ten-month assessment, the petrol tax cut and power price adjustment add about 0.07 percentage points of room for inflation control.
A five-tier household tariff: most families gain
In parallel, the Ministry of Industry and Trade is consulting on a plan to reduce the household tariff from six tiers to five (0–100, 101–200, 201–400, 401–700 and above 700 kWh). By the ministry's estimates, about 94% of more than 30 million household customers, those using less than roughly 777 kWh a month, would pay less than today, with the difference borne mainly by very high users. The plan is still under consultation with no confirmed start date, but its direction of protecting most households is clear.
Impact on Vietnam's economy
- Manufacturing: lower energy costs help firms keep prices competitive during the peak season for year-end export orders.
- Consumption: cheaper travel and power bills leave households more to spend over the year-end and Lunar New Year holidays.
- Macroeconomy: average CPI for ten months was 4.57%, close to the target of about 4.5%; the package eases price pressure in the last two months of the year.
- Energy companies: fuel distributors may benefit from higher volumes as prices fall; the power sector keeps moving towards transparent, cost-reflective pricing.
Expert perspective
Experts see the measures as positive but largely short-term, with effects concentrated in the last two months of 2026 and possibly into the first half of 2027. Lasting cost relief requires secure supply, flexible price management and stronger inspections so that retail prices fall when input costs fall.
vietnamii.com view: this is well-timed support that boosts Q4 growth while keeping prices stable. Once the five-tier tariff is approved, households will enjoy a recurring saving as well.