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Laos: Govt raises petrol prices for first time in 2011
The Ministry of Industry and Commerce has announced an increase to fuel prices for the first time this year, with prices rising in Vientiane and five provinces of Laos from today.
The price of petrol rose by 250 to 320 kip per litre in Vientiane, and by 240 to 320 kip per litre in the five provinces, according to a report from the ministry's Price Planning and Marketing Division yesterday.
It is the first adjustment to fuel prices by the ministry this year.
In Vientiane, petrol stations are now selling premium petrol for 10,570 kip per litre, regular petrol for 9,520 kip per litre and diesel for 8,220 kip per litre.
The report from the ministry noted that fuel prices vary between the provinces of Khammuan, Savannakhet, Champassak, Bokeo and Xieng Khuang, depending on transport costs.
In those provinces, premium petrol now costs between 10,590 and 10,690 kip per litre, regular petrol 9,560 to 9,850 kip per litre and diesel 8,260 to 8,540 kip per litre.
There were 14 fuel price adjustments by the ministry last year, 10 of them increases. That followed 15 adjustments in 2009, of which 11 were price rises.
Fuel prices fluctuate in Laos depending on shifts in the global market.
Singapore AP reported yesterday that oil prices hovered above US$89 a barrel in Asia as traders eyed repairs on a shutdown Alaskan pipeline that has cut crude production from the biggest US state.
Benchmark oil for February delivery rose 1 cent to US$89.24 a barrel midday Singapore time in electronic trading on the New York Mercantile Exchange.
Vientiane times
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