The Railway Transport Joint Stock Company (VRT) on March 9 announced a 10% increase in passenger ticket prices and a 15% rise in freight rates to align with its production and business conditions and ensure stable transport operations amid fluctuations in the fuel market.

A VRT representative said the adjustment had been carefully considered to partly share the burden of rising fuel costs while still ensuring service quality as well as safe and stable operations.

According to a notice by the Vietnam National Petroleum Group (Petrolimex), the price of diesel oil as of 15:00 on March 7 stood at 30,230 VND (1.15 USD) per litre, up 31.26% compared with the price announced at 15:00 on March 5 and 56.88% higher than the price recorded at 15:00 on February 26.

The VRT said the sharp increase within a short period has put significant pressure on fuel costs for operating trains and carrying out railway logistics activities.

Meanwhile, escalating tensions in the Middle East have caused strong and unpredictable fluctuations in the global fuel market, directly affecting the operating costs of transport enterprises./. VNA