HANOI: While the reduced environmental protection tax lowered petrol prices from April 1, most transport enterprises are struggling.

       Retail petrol prices fell by more than 1,000 dong (18 sen) per litre following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance.

       Accordingly, the retail price of RON95 bio-fuel dropped by 1,039 dong (19 sen) to a maximum of 28,153 dong (RM5.20) per litre, while E5RON92 was adjusted down to no more than 27,309 dong (RM5.04) per litre.

       Diesel 0.05S went up from 1,447 dong (27 sen) per litre to 25,080 dong (RM4.63) and kerosene increased by 1,519 dong (28 sen) per litre. According to the ministry, this was the second decline following seven consecutive hikes in petrol prices in 2022 that caused price increases of over 6,500 dong (RM1.20) per litre.

       “If the environmental protection tax stayed the same, the domestic petrol price in this operating period would have increased,” a ministry representative said.

       VU Tuyet Hanh, a representative of Cuong Thang Transport Co, specialising in transporting goods on the North-South route, said: “Transport enterprises expect petrol prices to drop more as the adjustment prices does not help reduce the burden on enterprises. The transport business continues to face difficulties. Many vehicles have had to stop working.

       ”Nguyen Ngoc Thanh, director of Kim Phat Transport Co said: “Fuel for container trucks usually accounts for about 40% of the cost of transportation. But from mid-2021, the oil price has increased by about 50% and businesses cannot increase freight rates by that level.” — Viet Nam News/ANN