Gasoline price drops trickle after 7 consecutive increases, consumers are fed up

From 3pm on March 21, the Inter-Ministry of Industry, Trade and Finance reduced the price of all petroleum products, of which E5 RON92 gasoline decreased by 655 VND/liter, the selling price was not higher than 28,330 VND/liter; RON95 gasoline decreased by 632 dong per liter, to 29,192 dong per liter.

Thus, after 7 consecutive increases (6 times from the beginning of 2022) due to the impact of world price movements, gasoline prices recorded the highest increase in the past 8 years, since July 2014. for the first time this year, gasoline prices had a “cooling down” session. However, this reduction did not satisfy consumers, because before that, most believed that the price of gasoline would decrease from 1,000 to 2,000 VND per liter.

On social networks, a series of comments expressed disgust.

Tran Huy Lieu in Hanoi expressed his views on his personal facebook: “Of course, policymakers always give reasonable reasons for their adjustment. However, in practice, it has become common practice that the increase in gasoline prices is often higher than the decrease. This is repeated over and over again consumption feel less confident. 7 times in a row, the price has reached historic levels. But when it comes down, it’s very sneaky, even though world prices are cooling down significantly“.

Mr. Lieu added: “I know experts recommend to quickly reduce the price of gasoline to control inflation. Therefore, the reduction of environmental protection tax has been taken into account since April. However, before the new regulations are applied, if there is an opportunity to reduce prices to support people and businesses, they should boldly take advantage. The actual reduction is too small compared to previous predictions of experts and analysts..

“Wait a minute, huge dropa 5-word status line posted on a car forum has garnered thousands of likes and hundreds of comments.

All comments expressed disappointment when gasoline prices fell very little compared to many previous increases. One member wrote: “Including petrol and oil, it will reduce more than 2,000 VND (gasoline 650 VND, oil 1500 VND)“.

Mr. Nguyen Duy Canh, 30 years old, residing in Dong Da Hanoi said: “Recently, the price of gasoline has been continuously increasing, sometimes up to thousands of dong, for the reason that the world price is high. Now that the world price has cooled down, everyone wants the domestic price to decrease, but only a few hundred dong lower. This is not worth it.Life will continue to be difficult for low-income people, especially those who work in taxis and motorbike taxis.“.

Meanwhile, Mr. Thanh Trung, a taxi driver in Hai Ba Trung, Hanoi, said that in the adjustment period 10 days ago, when the price of gasoline increased to nearly 30,000 VND, he had a hard time and tried to hold on. resisting taxi driving because the increase in gasoline prices means less income and profit, even though the company has increased the fare. Every working day, the cost is increased by about 30%, sometimes there is not enough food due to the number of empty guests.

With the price of gasoline dropping by just over 600 VND/liter, Mr. Trung expressed: “Every time it increases, it increases by several thousand dong, but when it decreases, it only decreases by a few hundred dong. If you increase it, you will go galloping, if you decrease it, you will decrease it so it’s annoying for everyone.”I said.

And Mr. Duc Huy, a self-made business owner of passenger cars on the Phu Tho – Hanoi route, shared:I stopped intending to increase the fare for a few cars of the house to keep customers because I thought the price of gasoline would decrease. However, this reduction is not enough to cover the loss. So I will consider the option of adjusting the fee tomorrow, accepting that it is difficult to compete with big car companies. If you continue to suffer heavy losses, you will have to take a break, wait for the price of gas to cool down, and then come back.”.