Motorists Hit By Yet Another Fuel Price Hike
Source: Vientiane Times
The Ministry of Industry and Commerce issued a directive on Thursday on restructuring fuel prices in Vientiane and the provinces in line with changing prices in the global market.
The ministry issued the notification to inform businesses engaged in running petrol stations to implement the new prices across Laos from 6 am on Friday.
This mean that motorists in Vientiane and the provinces will pay extra for fuel this month. This follows several changes in retail prices recently.
This time around, there will be an increase in the prices of premium and regular grade petrol and diesel.
Premium grade fuel will cost an additional 560 kip per litre, while the price of regular fuel will increase by 530 kip per litre. The cost of diesel will increase by 570 kip per litre.
In Vientiane, motorists were paying 12,610 kip for a litre of premium grade petrol, while regular grade was priced at 10,840 kip per litre, and diesel at 9,350 kip per litre.
After the latest price changes, motorists are set to pay 13,170 kip per litre of premium grade fuel, 11,370 kip per litre of regular petrol and 9,920 kip per litre of diesel.
Luang Prabang province will now sell premium grade petrol at 13,540 kip per litre, regular grade for 11,740 kip per litre, and diesel at 10,290 kip per litre.
Savannakhet will sell premium grade petrol at 13,200 kip per litre, regular grade fuel for 11,400 kip a litre, and diesel at 9,950 kip a litre.
Champassak will sell premium grade at 13,230 kip a litre, regular grade at 11,430 kip a litre, and diesel at 9,980 kip per litre.
Last month, the price of premium fuel increased by 410 kip a litre, while the cost of regular fuel increased by 380 kip per litre and diesel by 440 kip per litre.
Under the revised prices, people in Vientiane and provinces are expected to have to bear another spike in prices of consumers’ goods and other imported products.
It is unavoidable for Laos not to be affected every time there is a commodity price change on the global market as the country is heavily reliant on imported goods, especially petroleum products.