VIENTIANE, March 17 (Xinhua) -- The Lao government has approved a reduction in gasoline taxes and will allocate funds from the subsidy program to stabilize fuel prices, aiming to ease costs for consumers and prevent sudden price spikes amid global market fluctuations.
The decision was made during a consultation meeting on Monday to discuss measures addressing fuel-related issues, Lao National Radio reported on Tuesday.
During the meeting, importers and distributors reaffirmed their commitment to ensuring stable fuel supplies and preventing public panic. Authorities also plan to assess fuel storage facilities and expand distribution, particularly to remote areas, to avoid shortages.
A key decision was to reduce the tax rate on 95-octane gasoline to match that of 91-octane gasoline, lowering import costs and easing the burden on retail prices.
The meeting also discussed allocating fund to intervene in prices during periods of strong global market volatility. Enditem
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