HANOI, Nov. 10 (Xinhua) -- Vietnamese Finance Ministry has decided to raise the import taxes on petrol and kerosene by five percentage points to 20 percent as of Tuesday, local newspaper Labor reported on Monday.

    The import of diesel will be taxed at 15 percent from current 10 percent, according the ministry.

    The move was made in the context of the continuous decrease of the world oil prices, currently under 60 U.S. dollars a barrel, said the ministry.

    It is expected to offset losses of the state budget over the last year when Vietnam imposed zero percent import tax scheme on refined oil products, according to the ministry.