Many taxi firms in Hanoi have intended to increase their fares following recent rises in petrol prices, said the city Taxi Association Chairman Do Quoc Binh.
Speaking to DtiNews reporter, Binh said that the petrol prices have increased by VND3000 per litre compared to those of the latest price rise in May this year. So, this time, taxi firms in Hanoi plans to raise their prices by VND700-900 per kilometre.
The retail price of 92RON, the country’s most popular petrol grade has been raised to VND16,509 per litre, up 5.9% in the past two weeks, while its bio alternative E5 rose to VND15,938 a litre.
Taxi firms in Hanoi have intended to increase their fares following recent rises in petrol prices
Diesel prices increased 5.3% to VND11,908 a litre and kerosene rose to VND10,297 a litre.
The higher fuel prices will mean each taxi driver who runs around 300km per day on average would lose some VND45,000 daily, or VND1.4 million out of their total VND5-6 million monthly income.
Petroleum prices in Vietnam have increased for three consecutive times since May 5, but, during this time, taxi prices have almost remained largely unchanged. However, now, the rates have must be adjusted to ease losses, Dung claimed.
Nguyen Van Thanh, Chairman of the Vietnam Automobile Transportation Association, said the association has advised transport firms to adjust their fares in cases where petrol prices have decreased or risen by 10%.
The consecutive fuel price hikes also nudged May’s CPI up.
The higher fuel prices have also caused prices of many goods to increase, affecting people’s spending, said Chairman of the Hanoi Supermarket Association Vu Vinh Phu.