Ta Long Hy, chairman of the Taxi Association in Ho Chi Minh City and director of Vinasun Taxi Company, on Friday said that his company has reduced fares by VND500 per kilometre on both four and seven seater cars.
Vinasun is the first company to slash fares after reduction of petrol prices by VND800 a litre on June 7. Other taxi companies have not as yet announced any fare adjustments.
The same day, HCMC Cargo Transport Association said that none of its members had announced any reduction on freight rates.
This will eventually be decided between the transport companies and their clients, while the association can only suggest a price reduction.
Representatives of some transport companies said that according to their contracts with clients, once gasoline price hikes by VND1,000 then only will they increase fares by 4 per cent.
Petrol prices have been slashed twice already within a short period of time by more than VND1,000, which will compel companies to consider reducing fares.
