Government cuts diesel price
Government cuts diesel price
The government has lowered the price of diesel in Vientiane and five provinces effective yesterday; however the prices of premium and regular petrol remain unchanged.
The Price Planning and Marketing Division of the Ministry of Industry and Commerce announced yesterday that the price of diesel had dropped by between 90 and 110 kip per litre.
The new pricing is effective in Vientiane and the provinces of Khammuan, Savannakhet, Champassak, Bokeo and Xieng Khuang.
In Vientiane, petrol stations are now selling diesel for 9,090 kip per litre and in the five provinces, the price of diesel is between 9,120 and 9,300 kip per litre.
However the price of premium and regular has remained steady since December 19 in Vientiane and the five provinces.
Premium petrol is now selling for 11,260 kip per litre and regular for 9,920 kip per litre in Vientiane, while in the five provinces the price of premium petrol is between 11,260 and 11,380 kip per litre with regular between 9,960 and 10,160 kip per litre.
World fuel prices fluctuate in accordance with shifts in the global market and fuel prices in Laos reflect these movements, the report noted.
Associated Press reported yesterday that the oil price was steady near US$92 after closing nearly 1 percent higher a day earlier.
Benchmark US crude oil for February delivery was down 3 cents at US$92.56 a barrel at 0500 GMT in electronic trading on the New York Mercantile Exchange.The contract rose 79 cents to settle at US$92.59 in New York on Tuesday.
Brent crude, used to set prices for international varieties of crude, was down 24 cents at US$105.36. The price of US oil has fallen steadily since the beginning of the year because supplies of crude and fuel appear ample enough to offset rising demand.
In Laos, the Lao Petroleum and Gas Association reported yesterday that total fuel consumption in Laos was more than 911 million litres in the last fiscal year of 2012-13 and is increasing at about 7 percent per year.
vientiane times
