National Assembly Passes Resolution On Fuel Price Stabilization Measures

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Fuel crisis in Vientiane Capital
Motorists queue for fuel at a petrol station in Vientiane Capital.

The National Assembly of Laos has passed a resolution to reduce the excise tax on fuels in order to attempt to avert a fuel crisis in the country.

According to the Resolution, dated today, measures to stabilize the fuel price will include a reduction of excise tax collected from the sale of fuels.

Excise tax on diesel fuels will be reduced from 21% to 11%, while excise tax on gasoline will see a drop from 31% to 16%.

The reduction of excise tax for fuels is a temporary measure that will remain in place for three months, according to a notice issued by the National Assembly, and could be repealed should the global situation change.

 

Petrol prices have seen 11 adjustments this year, with the government making attempts to reduce taxes and other tariffs to lessen the impact on consumers.

Several provinces have met with fuel shortages in recent weeks, with Vientiane Capital hit over the weekend as pumps without fuel closed for business across the city.

Mr. Badidsinh Razmontry, Head of the Lao State Fuel Enterprise in Savannakhet Province, told the media recently that fuel imports in early 2022 have been declining every month, with imports in March down 18% from February, while April imports had decreased by 24%.

Meanwhile, government officials have called upon residents across the nation to make every attempt to save petrol as much as possible by carpooling, using public transport, or traveling less frequently.