Fuel price hike costs transport industry in Laos
VIENTIANE (Vientiane Times/ANN) - Steady increases in fuel prices is directly affecting enterprises and firms providing transport and logistics services.
Retail fuel prices have continuously increased over the past few months, raising costs for transport and logistics firms.
Transport service providers will increase charges according to the contracts offered by providers to customers, President of Lao International Freight Forwarders Association (LIFFA) Mr Prachit Sayavong told Vientiane Times recently.
It is not only transport service providers that feel the effects when the fuel price increases, but also other business operators and individuals countrywide who must utilise fuel to greater or lesser extents, he added.
Mr Prachit urged the government to enforce measures to properly manage fuel prices to ensure future rises will not severely affect operators.
The domestic retail price of petroleum increased by nearly 200 kip per litre following the announcement from the Ministry of Commerce and Industry on Monday.
The ministry announced the first fuel price rise of the year on January 11, and this is the second time.
The announcement came into effect yesterday in the capital and provinces across the country.
Currently, petrol stations in Vientiane are expected to sell premium grade petrol for 10,210 kip a litre, regular petrol for 9,120 kip kip and diesel for 8,100 kip.
In Savannakhet and Khammuan provinces, premium petrol sells at 10,240 kip and regular petrol at 9,150 kip, while diesel sells for 8,130 kip.
In Champassak provinces prices are set at 10,270 kip a litre for premium, 9,180 kip for regular and 8,160 kip for diesel.
In Bokeo province, premium petrol is to sell for 10,310 kip per litre, 9,220 kip for regular and diesel for 8,200 kip.
In Luang Prabang province premium petrol now retails at 10,670 kip a litre, regular petrol for 9,580 kip and diesel for 8,560 kip, while in Oudomxay premium petrol is 10,690 kip per litre, regular petrol is 9,600 with diesel at 8,580 kip.