Fuel Prices Set To Rise Again

Source: Vientiane Times

Motorists across Laos will have to spend more on petrol as the Ministry of Industry and Commerce issued a notification on Wednesday increasing the prices of all types of fuel.

The notification instructed all petrol stations and fuel importers to sell fuel in accordance with the new prices to be implemented nationwide from 6am on Thursday.

The price of premium grade fuel will increase by 410 kip a litre, while regular fuel will be costlier by 380 kip a litre and diesel by 440 kip a litre. Motorists in Vientiane will now buy premium grade fuel at 12,610 kip per litre, regular fuel at 10,840 kip per litre and diesel at 9,350 kip per litre.

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The previous price of premium grade sold in Vientiane was 12,200 kip per litre, regular fuel was sold at 10,460 kip per litre, and diesel was sold at 8,910 kip per litre.

Under the revised prices, motorists in Phongsaly province will pay much more than their counterparts in other provinces, with premium grade fuel costing 13,250 kip per litre, regular fuel 11,480 kip per litre and diesel 9,990 kip a litre.

People in Oudomxay province will also have to spend more because of the new prices, with premium grade fuel set to cost 13,090 kip a litre for. Some motorists in Vientiane said they are not worried about any changes in the fuel prices because they have not being going out anywhere since the lockdown was imposed on Sunday.

However, people are worried about a possible rise in the prices of consumer goods because local venders may cite the rising prices of fuel to make greater profits.

One Vientiane resident said, “Once the retail prices of fuel increase, the government should also take a closer look at fresh markets, retail shops and grocery stores to ensure they do not use this as an opportunity to increase the prices of products.”

Last month, the ministry decided to reduce fuel prices and the move brought smiles to the faces of many motorists across Laos, especially in Vientiane, where people are struggling to manage with expenses amid a surge in Covid-19 cases in the country.

In Vientiane, the previous price of premium grade fuel was 12,200 kip per litre (a decrease of 240 kip a litre from the earlier price of 12,440 kip per litre in July), while regular fuel was sold for 10,460 kip per litre (a cut of 200 kip a litre from the old price of 10,660 kip per litre in July).

The price of diesel was 8,710 kip per litre (a cut of 200 kip a litre from the old rate of 8,910 kip per litre in Julywa At the same time, motorists in Phongsaly province paid more than their counterparts in other provinces as the price of premium grade fuel was 12,840 kip per litre, while regular fuel sold for 11,100 kip per litre and diesel for 9,350 kip per litre.