The petroleum grades that are covered by the new tariffs include leaded and unleaded petrol, regular and high-grade petrol, jet fuel, tetrapropylen, and white spirits.

The tariffs levied on turbine fuels used in the aviation industry, as well as several types of diesel will also be cut to 25 percent.

The new tariffs will take effect from February 23, in accordance with Circular 33, signed by Deputy Finance Minister Do Hoang Anh Tuan on February 19.