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Motorists Nationwide Hit By Yet Another Hike In Fuel Prices

Source: Vientiane Times

Motorists in Vientiane and provinces across Laos are in the hot seat again as the retail prices of regular and diesel have been increased again following a change in prices on the global market.

The Ministry of Industry and Commerce (MOIC) on Thursday issued a notification informing gas and fuel firms to immediately implement the new restructured prices for regular fuel and diesel.

According to the notification no 1114/MOIC, dated November 18, businesses engaged in fuel sales and were directed to increase the prices of regular fuel by 970 kip per litre and diesel by 150 kip per litre.

Petrol stations in Vientiane and the provinces will begin rolling out the new prices from 6am on November 19.

This is the second time that the prices of fuel have been increased since November 6, though premium grade fuel was excluded from the hike this time around.

Drivers in Laos and other countries are currently facing the impact of the fluctuation of fuel prices on the global market.

Motorists in Vientiane were paying 11,990 kip per litre for regular fuel and 10,830 kip per litre for diesel.

Following the changes, they will now have to pay 12,960 kip per litre for regular fuel and 10,980 kip per litre for diesel.

Motorists in more than 10 provinces are expected to pay much more for regular fuel and diesel than drivers in Vientiane, especially those in Phongsaly province, who will pay 13,600 kip per litre for regular fuel and 11,620 kip per litre for diesel.

This northern province was recently slapped with the highest prices – 15,100 kip per litre of premium grade fuel, 12,630 kip per litre of regular grade petrol, and 11,470 kip per litre of diesel.