ASEAN KEY DESTINATIONS
Vietnam raises fuel prices
Vietnam has raised fuel prices by up to 15 percent, adding to soaring inflation as the government tries to battle smuggling of the subsidized product.
The diesel price has increased by 15 percent to 21,100 dong (US$1) per liter and the gasoline price by 10 percent to 21,300 dong (US$1.01) per liter.
The increase announced by the Ministry of Finance late Tuesday takes fuel prices to record levels. It is the second big hike in more than a month.
Fuel is subsidized in Vietnam and the government makes up the losses for importers. The ministry said fuel prices in Vietnam were 33 cents cheaper than neighboring countries before the hikes, contributing to fuel smuggling.
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