At this moment, a user’s car in Vientiane stands in a line to fill the fuel for many hours. The economic crisis in Laos was shown by the energy shortage which the main cause is supplies insufficient. Since the crisis of COVID19 and the lack of energy occurred thence Laos had affected by Lao Kip depreciated and the world market fuel has set a higher price. Therefore, Laos has not had sufficient dollars to buy fuel from other countries. Meanwhile, only 4 companies import fuel to Laos from 13 companies before.
Laos has already been confronted with a shortage of fuel a week ago in other provinces, in 9 May 2022, Vientiane’s capital has confronted with the same situation. Hence, petrol stations have conditions that a client vehicle can only be filled the fuel not more than 500,000.00 Kip per once. Some people brought the bottle to stock up the supplies, and the price of the fuel is 60,000.00 Kip per bottle, at the same time, some petrol station provides queue cards to a client for service only a client who got queue cards. The importers of fuel in Laos informed that they enable to import the fuel of just only 20 million liters per month, yet the demand for The Lao is 120 million liters per month as the importers have to purchase the fuel in only USD which the price of fuel is higher due to the depreciation of Lao Kip, this cause-effect to the petrol station to increase the price.
Consequently, recent news in Laos announced that adjusted the price of fuel on 10 May 2022, the price of Gasoline 95 is 22,190.00 Kip per liter, the price of Regular gasoline is 17,300.00 Kip per liter, and the price of Diesel is 17,830 Kip per liter.
According to the Laos parliament, It was reported the vote to reduce the fuel excise tax on Diesel from 21% to 11% and also reduce on Benzene from 31% to 16%, and look for the low price of fuel from Russia. Moreover, the Laos government has been asking the Lao people to cooperate using public transportation services, carpooling, and less roaming than before. Fortunately, these methods will help to reduce to use the of fuel and have enough supplies for every people.
Updating Lao State Fuel price
Published 17/05/2022
By Windy K.
