Vietnam taxi fares raised after gas price hike

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Taxi operators in Ho Chi Minh City Monday raised their fares following the recent gas price hike, and Hanoi firms are planning a similar move.

Ta Long Hy, chairman of HCMC Taxi Association, said the fares will be raised by a maximum of VND2,000, or more than 12 percent, on taxis made in 2011 onwards. Lower fare rises of VND1,500, VND1,000 and VND700-800 will be applied on older cars. 

Vinasun, a popular taxi firm in the city, has raised its fares on several cabs by between VND1,000-1,500, to VND16,000-18,000 a kilometer, news website VnExpress reported.

Its competitor Mai Linh is also changing the meters for 3,600 cabs after raising fares by between VND800-1,000 a kilometer.

Similar price increases will take effect in Hanoi starting Wednesday, the firms said.

Do Quoc Binh from Hanoi Taxi Association said the firms would need around one week to finish paperwork and technical adjustment for the new prices.

Binh said the firms already planned a price increase before the gasoline hike after bank interest rates, parking fees and wages all increased.

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"The gas price increase was the final straw and it's impossible not to change the fares."

He said the association will try to help firms operate profitably, ensure a decent income for drivers and minimize harm to consumers.

The price of the most commonly used fuel grade in Vietnam, 92-RON gasoline, on Wednesday last week was allowed to retail at VND22,900 per liter, compared to VND20,800 previously. The Ministry of Finance cited the steep rise in world fuel prices as the reason.

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