At 9pm on Tuesday, domestic petrol prices were increased by 1,950 VND per litre.  The main reason given for this is that world fuel prices have seen consecutive increases over the past 15 days.

As a result, in Da Nang the retail price per litre of 92 RON petrol is now 19,230 VND, whilst 95 RON is 19.850 VND.

The petrol price hike has inevitably put more pressure on local businesses and residents.

Representatives from some of the city’s taxi companies said that local taxi fares have remained unchanged despite the 1,600 VND per litre increase in the price of petrol on 11 March.  However, they are now waiting for a decision from the local Taxi Association about raising taxi fares in order to help them to overcome the difficulties due to this latest petrol hike. 

The increase in petrol prices also affects contracts which have already been signed by local transport businesses and travel agencies.

Meanwhile, many local residents are now worrying that the rise will cause the prices of some consumer goods to increase.