VIENTIANE (Vientiane Times/Asia News Network):The government is taking steps to rein in the rising price of fuel, to ease the impact on the economy and the lives of the general public, amid a volatile global market.
Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilisation fund if petrol prices keep rising, said a leader from the Ministry of Industry and Trade (MoIT). On February 11, retail petrol prices were increased by nearly 1,000 dong (4.38 US cents) per litre following the latest adjustment by MoIT and the Ministry of Finance (MoF).