Expecting stable prices during Tet
Updated : Wednesday, January 09, 2019 7:50 AM (GMT+0700)

In the early days of2019, consumers received positive signals when petrol prices fell sharply forthe 6th time in a row. The decrease in petrol price to the lowest level in thepast years has made businesses and consumers expect stable prices in theyear-end peak.

Consumers shopping for food at Tuy Hoa market

Mr. Nguyen Van Dung, the owner of a transport company in SonHoa district, lets known: Normally, at year end, all transport company increaseprices strongly due to high demand for passenger and cargo transport; marketprices fluctuate strongly. However, this year, the petrol price continuouslywent down deeply at year end, helping to reduce pressure on cargo transport.

When petrol price increased before, we tried not to increasetransport price; therefore, we will not reduce the current price because it iscalculated very closely with numerous other expenses which are constantlyincreasing. In addition, in year-end peak time of transporting goods andpassengers, we have to strengthen means and people, so we cannot reduce pricein this time.

As for production and business units and small businesses,the sharp decrease in petrol price during the year-end peak also creates manyadvantages. Mrs. Tran Thi Thu Ha, a small trader selling fruits at Song Hinhmarket, lets known: Normally, at year end, goods price increase and transportcosts are also pushed up by half or double. All of these costs are included inproduct price in the market, causing sharp increase in commodity price.However, this year, the petrol price has continuously decreased, so transportcosts as well as production costs at year end are not pushed up. Therefore, thepressure of increasing commodity prices at year end also decreasedsignificantly.

According to Mrs. Duong Thi Kha, Director of Van Phuc TradingCo., Ltd., which majors on contributing consumer goods and has office in TuyHoa city, the sharp decrease in petrol price at year end helps stabilize themarket and prices. The biggest benefit of decreasing petrol price at this timeis to help curb the rise in prices during Tet and make market prices stable andless fluctuating. If production cost increases, transport cost will increaseand put pressure on prices.

The fact that petrol price has declined sharply recently alsomake consumers excited and expect stable prices of commodity during Tet. Mrs.Truong Thi Thuy Vy in Binh Kien commune, Tuy Hoa city, lets known: Normally, atyear end, commodity prices go up sharply, causing considerable pressure onspending balance of each family. This year, petrol prices declined sharply atyear end so I expect commodity prices to decrease or at least be stable and notmuch fluctuating. This will contribute to reducing the burden of spending forpeople during Tet holiday.

Mrs. Nguyen Thi Kim Bich, Deputy Director of the Departmentof Industry and Trade, lets known: The fluctuation of petrol price depends onpetrol price of the world market. Meanwhile, commodity prices at year enddepends on many factors such as cost of raw materials, labor... In order tostabilize the commodity market at year end, Industry and Trade sector isdrastically deploying to stock goods, control prices, fighting against goodshoard, speculation, price increases...

By this time, the market price is remains stable and isexpected not to have much fluctuation during Tet holiday. The Industry andTrade sector will continue to coordinate with departments and localities towell control commodity prices, stabilize the market in year end so that everycitizen can enjoy spring and Tet safely and economically.

Source: Phu YenNewspaper

Translated by KHUONGTHAO 

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