Transport firms up charges amid mounting fuel prices
- 104
- Business
- 10:35 07/05/2022
DNHN - About 80-90 percent of fixed-route transport firms have adjusted their fares up by 10-15 percent to offset mounting fuel costs, according to a Ministry of Transport (MoT) report submitted to the Prime Minister, assessing the impact of higher fuel prices.
According to the ministry, fuel prices have increased by 4,625-7,030 VND per litre (0.2-0.3 USD), or 24.91-39.56 percent, after six price adjustment periods since early 2022.
Due to the price hikes, fuel costs have grown to an enormous proportion of the total costs of roadway transport firms, accounting for 40-45 percent of their bills. The firms had no choice but to seek fare rises.
The situation is not better for airlines, whose fuel costs account for 39.5 percent of their total costs. The MoT estimated that airline fuel costs in April climbed by 84 percent compared to September 2015, effectively eroding their profitability.
The Civil Aviation Authority of Vietnam has sent an appeal to the MoT, requesting adjustments upward on ceiling airfares to help airlines to recover.
Meanwhile, railway firms have decided to keep their fares unchanged to attract more passengers and stick to socio-economic targets set by railway authorities. Rail freight rates rose slightly by 3-5 percent.
A few shipping lines have begun to collect fuel surcharges since March to cover higher costs, whereas others have not hiked their fares.
“Mounting fuel prices have not passed on to waterway fares so far. However, the situation may change in the future as fuel prices continue to rise,” the report said.
The MoT has urged agencies and authorities to strictly comply with the instructions of Deputy Prime Minister Le Minh Khai, head of the Steering Committee on Price Management, to keep inflation in check.
Notably, agencies and authorities must not adjust the prices of State-managed goods and services, to ease the cost burden on individuals and firms.
They are also required to keep a close watch on transport firms to ensure that they raise fares reasonably, with any price gouging facing a severe penalty.
The ministry advised the Prime Minister to consider removing or reducing infrastructure fees related to rail, roads and ports, value-added tax on transport services and corporate income tax to mitigate the woes of transport firms.
Regarding struggling airlines, the MoT urged agencies and authorities to implement favourable price policies to help airlines cover higher costs.
The ministry recommends that transport firms be put high on the list of beneficiaries of the economic recovery packages under Resolution 11.
VNA
Related news
#fuel prices

What needs to be done to improve the oil and gas price regulation mechanism?
Economic expert - Dr. Nguyễn Minh Phong shares with the reporter of the Business and Integration Magazine regarding the draft Decree on oil and gas business, which is attracting attention from businesses.

Solutions to curb price increase in Vietnam
The economic and social situation in the first 5 months of 2024 has continued to show positive trends, but the average CPI for this period has increased by 4.03%. Therefore, controlling inflation remains a key goal and challenge for the government.

The exodus of fuel distribution and retail companies: Reasons behind the withdrawal
According to the Ministry of Industry and Trade, as many as 16 fuel companies have requested to return their distribution licenses since the beginning of the year.
Đọc thêm Business
US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
Vietnam’s pangasius industry eyes $2 billion worth of exports in 2025 amid shifting US trade policy and a global supply realignment.
CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
On the afternoon of September 26, 2025, a strategic cooperation signing ceremony took place between CICON (Korea) and its key Vietnamese partners, including the Ho Chi Minh City Association of Small and Medium Enterprises (HUBA), Doanh nghiệp & Hội n
What must Vietnamese enterprises do to maintain their position in the global supply chain?
Mr. Lu Wei Chieh, General Manager of Cathay United Bank – Ho Chi Minh City Branch, shared with Business & Integration Magazine key strategies that can help Vietnamese enterprises not only stand firm but also go further amid shifting global dynamics.
Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
This robust inflow is not only transforming the country’s industrial landscape but also signaling Vietnam’s rising role in the global supply chain amid shifting geopolitical dynamics.
Foreign investors expected to open 150,000 new securities accounts in the next 5 years
The Ministry of Finance has set an ambitious target to increase the number of securities trading accounts held by foreign investors in Vietnam to 200,000 by 2030—four times higher than the current figure.
Vietnam launches “Private Economy Panorama Model” to foster public-private national development
Billionaire Nguyen Thi Phuong Thao emphasizes that entrepreneurs’ responsibilities extend beyond profits to creating social value.
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.
The master sales secrets of luxury king Bernard Arnault that make the world spend
Billionaire Bernard Arnault, Chairman of LVMH (Moët Hennessy Louis Vuitton), controls more than 70 of the world’s most prestigious luxury brands, from Louis Vuitton and Dior to Moët & Chandon and Bulgari.
White House: When politics and technology join forces to rewrite the global AI order
The White House became the epicenter of global attention as U.S. President Donald Trump and First Lady Melania Trump hosted a high-profile state dinner, bringing together more than 20 of the most powerful leaders in technology and American business.