The prices of consumer goods and services remained the same in spite of the sharp cut in petrol and oil prices this year.
Thisweek, and for the seventh time this year, the prices of petroleum andoil products were reduced, with petrol falling to 22,890 VND per litre, a10.7-percent decrease compared with that in July.
When petrolprices were raised this year, numerous transport companies joinedproducers and suppliers of consumer goods in increasing their prices tooffset the petrol price increase.
Vu Vinh Phu, Chairman of theHanoi Supermarkets Association, said the petrol and oil price reductionwould immediately impact on transport fees, which would, in turn, impacton the prices of consumer goods.
Phu noted that consumers were at a disadvantage now as transport fees and the prices of consumer goods remained the same.
However,transport companies gave various reasons for maintaining prices. NguyenVan Thanh, Chairman of the Vietnam Automobile TransportationAssociation, said fuel costs accounted for roughly 40 to 50 percent oftransport fees, so the fees would be adjusted in accordance with fuelprice fluctuations.
Thanh added that though petroleum and oilprices were reduced seven times this year, the cut each time was onlyfor a small percentage, so transport companies were finding it difficultto immediately cut prices.
He remarked that after an increaseor decrease in petrol and oil prices, transport companies needed moretime to make the calculations that would serve as the basis fortransport fee adjustments.
Taxi and passenger transportcompanies will also find it difficult to make any adjustments as theyhave to reprint tickets, adjust taxi metres and seek tax agencies'approval, Thanh added.
The companies can adjust prices if the petrol and oil price decrease or increase lasts for a long time, he noted.
ThaiVan Chung, General Secretary of the Ho Chi Minh City TransportationAssociation, said transport companies often increased their fees whenpetrol and oil prices rise by five percent, so the reduction was oftenthe same.
However, the reduction in petrol and oil prices thisyear was only roughly one to two percent each time, so the decision tocut transport fees would depend on the transport companies, Chung added.
Since transport companies were maintaining their prices,producers and suppliers of consumer goods said they would likewisemaintain theirs.
Meanwhile, the Ministry of Industry and Tradesaid it could not intervene, as the market mechanism was managing theprices of consumer goods and services except for electricity, water andpetrol.-VNA
Thisweek, and for the seventh time this year, the prices of petroleum andoil products were reduced, with petrol falling to 22,890 VND per litre, a10.7-percent decrease compared with that in July.
When petrolprices were raised this year, numerous transport companies joinedproducers and suppliers of consumer goods in increasing their prices tooffset the petrol price increase.
Vu Vinh Phu, Chairman of theHanoi Supermarkets Association, said the petrol and oil price reductionwould immediately impact on transport fees, which would, in turn, impacton the prices of consumer goods.
Phu noted that consumers were at a disadvantage now as transport fees and the prices of consumer goods remained the same.
However,transport companies gave various reasons for maintaining prices. NguyenVan Thanh, Chairman of the Vietnam Automobile TransportationAssociation, said fuel costs accounted for roughly 40 to 50 percent oftransport fees, so the fees would be adjusted in accordance with fuelprice fluctuations.
Thanh added that though petroleum and oilprices were reduced seven times this year, the cut each time was onlyfor a small percentage, so transport companies were finding it difficultto immediately cut prices.
He remarked that after an increaseor decrease in petrol and oil prices, transport companies needed moretime to make the calculations that would serve as the basis fortransport fee adjustments.
Taxi and passenger transportcompanies will also find it difficult to make any adjustments as theyhave to reprint tickets, adjust taxi metres and seek tax agencies'approval, Thanh added.
The companies can adjust prices if the petrol and oil price decrease or increase lasts for a long time, he noted.
ThaiVan Chung, General Secretary of the Ho Chi Minh City TransportationAssociation, said transport companies often increased their fees whenpetrol and oil prices rise by five percent, so the reduction was oftenthe same.
However, the reduction in petrol and oil prices thisyear was only roughly one to two percent each time, so the decision tocut transport fees would depend on the transport companies, Chung added.
Since transport companies were maintaining their prices,producers and suppliers of consumer goods said they would likewisemaintain theirs.
Meanwhile, the Ministry of Industry and Tradesaid it could not intervene, as the market mechanism was managing theprices of consumer goods and services except for electricity, water andpetrol.-VNA
