Vinasun taxis park along a street in Ho Chi Minh City. Photo: Le Cong Son
At least a dozen of transport companies in Ho Chi Minh City have announced that they are reducing their fares, following the recent cut in fuel prices, news website Saigon Times Online reported Friday.
This is the first time Vietnamese transport businesses have cut their prices since June.
Over the past three months fuel prices have been reduced five times, bringing the price of the most popular gasoline grade RON-92 down by more than 16 percent.
Ta Long Hy, chairman of HCMC Taxi Association, was quoted as saying that Vinasun and Mai Linh taxis will start cutting their rates by VND500 (0.21 US cents) per kilometer from VND9,000-17,000 (39-74 cents) per kilometer next Tuesday.
He said other member companies are also set to adjust their rates, but yet to announce how much the cut will be.
Thuong Thanh Hai, vice director of the Mien Dong Bus Station, the hub for buses operating between HCMC and southeastern provinces such as Binh Duong and Dong Nai, said around 10 transport businesses have announced a drop of 4-10 percent in their fares.
Several companies which travel between the city and the Mekong Delta have already lowered their fares by VND10,000-20,000 (43-87 cents) this week, the website reported.
Vietnamese authorities have adjusted fuel prices 11 times this year, including four hikes.
With the latest adjustment on September 3, RON-92 now retails at VND17,338 (76 US cents) per liter, while biofuel alternative E5 is priced at VND16,843 (73 cents) per liter.
The prices for diesel and kerosene have been reduced by less than 1 percent, to VND13,310 (58 cents) and VND12,286 (53 cents) respectively.