Many local taxi companies across the country have decided to cut fares after the government reduced gasoline prices by 7 percent last week

Taxi companies across the country have cut fares after the government reduced retail prices yet again last week.

Vinasun Director Ta Long Hy said his firm Thursday cut the fare from VND11,000 to VND10,500 per kilometer.

Mai Linh Group’s Deputy General Director Truong Quang Man told Thanh Nien that his agency would reduce the fare from VND11,000 to VND10,500.

In Hanoi, Nguyen Minh taxi company announced a reduction of VND1,000 to VND8,000 per kilometer.

Other companies like Net and Long Bien announced similar cuts.

The Hanoi Taxi Association asked its members to make a cut of at least 10 percent, according to chairman Do Quoc Binh.

The move by the taxi companies come after the government reduced gasoline prices by 7 percent last week, following a sharp decline in global prices. The price had been cut four times last month.

Reported by Thanh Nien staff