Rising concerns over consumer goods prices due to power, fuel hikes

Although at the current moment, hikes in electricity and fuel prices have not affected the prices of goods in the market yet, it raised concerns that consumer goods prices would fluctuate in the near future.

Customers buy fruits at a supermarket. (Photo: SGGP)

Customers buy fruits at a supermarket. (Photo: SGGP)

From April 2, the price of biofuel E5 RON92 rose by VND1,377 per liter to VND18,588 per liter; the price of RON95 gasoline surged by VND1,484 per liter to VND20,033 per liter; and the price of kerosene saw an increase of VND1,086 per liter.
Earlier, average power prices were raised by 8.36 percent on March 20, which has also greatly affected production costs of several firms, increasing cost prices.
According to provincial industry and trade sectors, power or fuel is just a factor participating in the production process. Although fuel price rise has an effect on businesses, its impact is insignificant as cost price of a product depends greatly on input materials, labor cost, storage and transport costs.
The industry and trade sector said that in order to develop steadily, it is essential for businesses and producers to ensure profits and price their products at suitable and competitive level, assuring consumers’ interests.
Businesses also need to improve administrative skills, use modern devices to lessen energy consumption and calculate saving transport plans to reduce production costs, heightening their competitiveness in the market.
At supermarket and trade centers in Ho Chi Minh City, the prices of goods have not changed as most of goods sold here are of contracts signed before adjustments in power and fuel prices. However, with sharp increases in fuel and power prices, the prices of several products are expected to jump in the near future.
Representative of Co.opmart Binh Duong 1, Co.opmart supermarket has asked suppliers to keep the prices stable so as to guarantee that consumers are offered the best prices. Amid the current situation, goods sold at Co.opmart supermarkets have not seen many fluctuations yet. The supermarket will continue to work with suppliers to ensure the most reasonable prices for consumers.

By Ha My – Translated by Thuy Doan

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