Freight rates will increase in a few days.

“We also anticipated that gasoline prices would increase, but we did not expect them to increase so much and continuously. With this increase, transportation fares will increase by about 10% in the coming days,” said Mr. Nguyen Manh Hung, Chairman of the Vietnam Automobile Transportation Association.

According to Mr. Hung, in the three most recent gasoline price increases on February 24, March 24 and March 29, each increase was more than 10%, so the impact was very large. With the increase on March 29, the cost of transportation by gasoline-powered cars will increase by 5%, and by diesel by 7%.

“To ensure market stability, we have advised businesses not to increase fares by more than 10%,” said Mr. Hung.

There may be a sharp increase in freight rates in the next few days.

The Chairman of the Vietnam Automobile Transport Association emphasized: “We have asked transport companies not to continuously increase fares. If any company has not adjusted fares in previous periods, then all of them will increase together.”

According to Mr. Hung, in the next 7-10 days, transportation prices will change.

According to Mr. Bui Danh Lien, Chairman of Thang Long Transport Cooperative, the increase in transportation fares is inevitable, the increase will be from 5 to 10%. However, according to regulations, adjusting fares will take more than 5 days.

“Last time, our cooperative only increased fares on some routes, but with this increase in gasoline prices, we will adjust most routes up, and add the percentage that should have been increased to previous gasoline price increases,” Mr. Lien added.

Thus, it is very likely that in the next few days, there will be a strong adjustment in freight rates.

According to KH&DS