A taxi picks up passengers at Tan Son Nhat Airport in HCM City (Source: tuoitre.vn)
HCM City (VNA) - Many taxi firms registered lower fares after Deputy Minister of Transport Nguyen Hong Truong urged them to do so on February 22 following recent drops in petrol prices.

Mai Linh Group Deputy General Director Pham Minh Suong said the company has set new rates across its nationwide network based on specific market conditions in separate localities.

In HCM City, Mai Linh will slash rates by 500 dong (two US cents) per kilometre for four-seat cars and 600 dong per km for seven-seat vehicles on February 26.

Vinasun announced that it will cut fares by 500 dong per km this week. With travelling distances of less than 30km, its new charges will be 14,000 VND per km for five-seat cars and 15,000 VND to 16,000 VND per km for eight-seat vehicles.

Comfort Savico registered rate cuts of 500 dong to 700 dong per km, while Airport registered a cut of 300 dong per km, and Saigon Hoang Long registered reduction of 500 dong per km.

In the capital, while the Hanoi Taxi Association said its member companies will slash fares by around 300 dong per km in one next week or two, Taxi Song Nhue announced a rate cut of 500 dong per km.

Hanoi Transportation Association Chairman Bui Danh Lien told the press that the 300 dong cut would be small compared to with the reduction in domestic fuel prices, which hit a record low recently.

He suggested that taxi firms consider more suitable rate cut levels to match current market developments.

Other firms such as Thanh Nga and Van Xuan have reportedly not announced adjustments yet, with charges for sedans hovering around 11,000 VND per km for the first 21km, and 9,000 VND for every next km.

Domestic fuel prices plunged to a seven-year low on February 18, when the retail price of petrol was cut by 961 dong to 13,752 VND per litre, and the price of the E5 RON 92 biofuel dropped by 942 dong to 13,321 VND per litre.

The price of diesel remained unchanged at 9,580 VND per litre.-VNA