How the gasoline prices affect other goods and service?

, How the gasoline prices affect other goods and service?
  • The high gasoline prices (the highest level in the past seven years) have put pressure and affected many production and business activities of businesses and people. Over the past week, many types of goods, food, and services in Ho Chi Minh City have also rushed to raise their prices.
  • More stories at Vietnam Insider’s homepage.

Prices of vegetables, meat, and fish slightly increased

At Hoa Hung Market in District 10, Go Vap Market in Go Vap District, and Hoang Hoa Tham Market in Tan Binh District, the number of customers is relatively small, while food is abundant and diverse. Many types of fresh products and foods, such as meat, fish, seafood, vegetables, and fruits, slightly edged up by VND1,000-VND5,000 per kg. For example, a kilogram of lettuce cost nearly VND30,000 before the pandemic. Up to now, many small traders have had to increase to VND34,000 kg to make up for the transportation cost to earn a profit.

Some small traders said that price hikes in all kinds of goods had directly affected the purchasing power of consumers and their revenues. From now until the end of the year, prices of foods and commodities are also predicted to increase sharply if gas and petrol prices show no signs of a downward trend. Nguyen Chau Lam, a small trader at Hoa Hung Market in District 10, said that she mainly purchased foods from wholesale markets, the prices of many foods had cooled down sharply compared to those during social distancing. However, prices had started to go up slightly again in the past week due to increasing freight charges. On average, each box of goods rose by dozens of thousands of Vietnamese dong. She was worried that the increase in food prices would directly affect the purchasing power and her income.

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Impact on many aspects

In comparison to the previous time, many types of cooking oil have tended to climb by VND3,000-VND5,000 per bottle. Specifically, a liter of Happy Koki cooking oil advanced to VND40,000, and a liter of Neptune cooking oil surged to VND52,000. Nguyen Thi Phuong, a resident in Binh Thanh District, said that the price of vegetables and fruits had also increased. Scallions were sold at more than VND80,000 per kg. Not only food but incense and candle products had also rallied rapidly. “A bunch of incense used to fetch VND75,000, but now it has risen to VND80,000,” Phuong said.

At Binh Thoi Market in District 11, some small traders said that the price of goods increased slightly by VND1,000-VND2,000. “Despite increasing freight rates, inconvenient transportation, and rising gasoline prices, traders are trying to keep prices moderate to retain customers amid economic difficulties,” said a small trader.

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Not only fresh food, but a variety of drinks, cooked food, and street food, such as coffee, broken rice, rice noodle soup, vermicelli, and pho, are also about to increase prices due to the influence of gasoline and gas prices. In Go Vap District, on average, a plate of broken rice cost VND25,000-VND30,000 before the pandemic. But now, many eateries have simultaneously raised their prices to VND30,000-VND35,000. Many coffee shops have also augmented an average of VND1,000-VND2,000 per glass of drinks to cover other incurred costs.

Source: SGGP

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