Fuel prices rise for first time in 2016
Fuel prices rise for first time in 2016
Petrol stations across the country have raised the retail price of premium grade petrol, regular petrol and diesel after the Ministry of Industry and Commerce announced an increase in fuel prices.
This is the first fuel price hike this year after the ministry lowered the prices four times earlier in the year.
Prices were first cut on January 8 when petrol sold for 7,130 kip per litre and diesel for 5,750 kip per litre.
A second price drop followed on January 26, lowering the cost of petrol to 6,970 kip per litre and diesel to 5,600 kip per litre.
The third cut occurred on February 19 when petrol went on sale for 6,800 kip per litre and diesel for 5,400 kip per litre. The most recent price cut took place on June 11 when petrol dropped to 6,640 kip per litre and diesel to 5,300 kip per litre.
The price hike became effective yesterday in Vientiane and the provinces of Khammuan, Savannakhet, Champassak, Bokeo, Luang Prabang, and Xieng Khuang.
In Vientiane, petrol stations should sell premium grade petrol for 7,890 kip per litre, up from 7,610 kip per litre and regular petrol for 6,910 kip per litre, up from 6,640 kip per litre. The cost of diesel is now 5,570 kip, up from 5,300 kip per litre.
In Khammuan and Savannakhet provinces, premium petrol now costs 7,920 kip per litre, up from 7,640 kip, while regular sells for 6,940 kip up from 6,760 kip, and diesel is retailing for 5,600 kip, up from 5,330 kip.
In Champassak province, premium petrol sells for 7,950 kip, up from 7,670 kip and regular petrol sells at 6,970 kip up from 6,700 kip. The cost of diesel is now 5,630 kip, up from 5,360 kip.
In Bokeo province, premium petrol should sell for 7,990 kip per litre, up from 7,710 kip, regular petrol for 7,010 kip, up from 6,740 kip, and diesel for 5,670 kip, up from 5,400 kip.
In Xieng Khuang province, regular petrol sells for 7,100 kip per litre, up from 6,830 kip per litre and diesel is now 5,760 kip, up from 5,490.
The ministry cited the changing global oil price as the reason for the pump price hike.
