Rising fuel price, depreciating kip harming Lao producers

The price of fuel jumped by 28 per cent from US$77.97 per barrel at the end of 2021 to more than US$100 per barrel in April. - Bloomberg

VIENTIANE (Vientiane Times/Asia News Network): Skyrocketing fuel prices and the continuing depreciation of the kip are ramping up pressure on producers due to soaring production costs, according to a recently unveiled study.

Conducted by the Ministry of Industry and Commerce, the research paper stated that the Russia-Ukraine conflict had interrupted the global supply chain, leading to a rise in the price of fuel, gas and animal feed.