Ten percent gasoline price hike triggers inflation fears

The reail price of A92 petroleum will go up to VND13,000, A95 to VND13,300, and A90 to VND12,800 per litre.

The government’s move yesterday to increase gasoline prices by nearly 10 percent after global oil prices surged to nearly US$ 100 per barrel has ignited fears that inflation will worsen.

The Ministry of Finance, justifying the VND1,700 per liter rise, said the government could not continue to keep gasoline prices low amid the rising international prices.

Dinh Quang Hien, an executive at the Saigon Tourist Transport Corporation and chairman of the Ho Chi Minh City Taxi Association, said his company would be hit hard by the price increase.

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