Last weekend the petrol price fell for the 5th time in a row to more than 24,000 VND/litre, close to the price level at the end of last year and early this year. In that regard, many taxi companies in Hanoi have filed documents with authorities proposing a plan to lower the rate after increasing it in the past period to match the price of gasoline.
In about 7-10 days, when the authorities have completed the procedures for approving the fare declaration, some taxi companies will reduce the fare by about 6 – 12%. According to taxi companies, the continued decline in petrol prices in recent years is a precondition for airlines to lower fares, which contributes positively to stabilizing market prices.
Notably, many taxi companies in Hanoi have sent reports to the Ministry of Transport and the Hanoi Tax Authority, proposing to lower the rate from 500 to 1,000 VND per km depending on the type of vehicle. Previously, freight increased by about 1,000-1,500 VND when gasoline increased by more than 30,000 VND/litre.
According to representatives of taxi companies, the cost for any time of fare adjustment, including application procedures, logo peeling, lead removal, timer inspection, yard rental, etc., is very expensive and falls in the range of approx. 400,000 – 500,000 VND for 1 car. The business community will therefore consider adjusting the rate only if the petrol price rises or falls sharply.
Source: CafeF
