Over the past 4 months, domestic fuel prices have decreased on 9 occasions.  The price per litre of petrol has reduced by 4,250 VND in total, whilst diesel 0.05S has dropped by 3,580 VND and kerosene by 3,250 VND.  This has been very much welcomed by Vietnamese people.  However, the prices of local essential goods and services have remained unchanged.

The majority of dried food traders at local markets are now reluctant to stockpile a large quantity of goods because of their worries about the possibility of a slump in sales.

Some shoppers at the Han Market

Monday’s survey conducted by local relevant agencies revealed that the prices of necessities that are being sold at local markets have yet to drop.  For example, the prices of some goods on sale at the Moi (New) Market have remained unchanged over the past 4 months.  Meanwhile, traders at the  Hoa Cuong Wholesale Market said they had asked their transport service providers to decrease their charges, but they had refused. 

The Vice Director of the municipal Department of Industry and Trade, Mr Lu Bang, said that local goods distributors now mainly depend on suppliers from Ha Noi and Ho Chi Minh City.  He added that his unit will closely work with the Department of Finance to re-check all the products on sale at the local markets, especially those whose prices have soared continuously over the past months, in order to make suitable adjustments. 

Following the decrease in charges by the Tien Sa Taxis Company on Monday, other taxi companies such as Mai Linh have also submitted rate reduction plans to the Department of Finance as a result of the recent decrease in domestic fuel prices.