Laos to Increase Fuel Prices Amid Global Disruption

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Fuel price increase
A pump attendant assists a customer with fuel (Photo: PTT)

Authorities are to increase fuel prices yet again tomorrow as the conflict in Ukraine pushes prices upward.

The price of fuels will be increased across the country tomorrow morning, according to the Ministry of Industry and Commerce.

Tomorrow’s adjustment will be the fifth fuel price increase in Laos this year.

Premium petrol will be increased by LAK 1,710 per liter, with regular petrol up by LAK 1,430 per liter, and diesel fuel up by LAK 1,570 per liter.

 

The government of Laos has held talks last month on ways to control rising fuel prices faced by the country amid volatile global markets.

Authorities are urgently attempting to find a solution to control high fuel prices, which affect transportation, inflation, and the cost of living.

The county’s Value Added Tax (VAT) was reduced from 10% to 7% this year, as well as changes made to import and other taxes.