Fuel price in Laos to drop further
Fuel price in Laos to drop further
Petrol prices in Laos will decrease again following a fall in fuel prices on the world market.
According to the Domestic Trade Department of the Ministry of Industry and Commerce, the government plans to adjust fuel prices at petrol stations around the country this week, which follows the adjustment made at the beginning of this month.
Changes in the fuel price will affect government revenue on fuel imports, a Lao Petroleum and Gas Group Association official, Mr Thong Thammalat, told Vientiane Times last week.
The Domestic Trade Department reported that from January 8-December 22 last year, the fuel price was adjusted 17 times, including 15 decreases and two increases.
In Vientiane, petrol stations are now selling premium petrol for 8,160 kip a litre, regular grade petrol for 7,130 kip a litre, and diesel for 5,750 kip.
In Khammuan province, premium petrol sells for 8,190 kip and regular for 7,160 kip, while diesel sells for 5,780 kip.
In Savannakhet province prices are 8,190 kip a litre for premium, 7,160 kip for regular and 5,780 kip for diesel, while in Champassak province premium petrol sells at 8,220 kip, regular petrol for 7,190 kip, and diesel for 5,810 kip.
In Bokeo province, premium petrol sells for 8,260 kip a litre, regular petrol sells for 7,230 kip and diesel for 5,850 kip, while in Xieng Khuang province regular petrol is 7,330 kip per litre and diesel is 5,950 kip.
Fuel prices fluctuate depending on shifts in the global market. The lowering of fuel prices in Laos is in line with a reduction of the price of oil in world markets.
Laos is a fuel importing country so it needs to fix fuel pricing in accordance with shifts in the global market.
According to Australian news, Australian petrol prices dropped below AU$ 1 last week after world oil prices hit record lows.
According to figures from motoring industry group MotorMouth, the city with the lowest unleaded petrol price on Tuesday was Adelaide, which had an average of AU$104.1 cents.
It was followed by Sydney (AU$108.1), Melbourne (AU$109.1), Brisbane (AU$120.0), Perth (AU$125.0), Darwin (AU$125.1), Canberra (AU$125.8) and Hobart (AU$129.6).
