Rising fuel prices new source of trouble for businesses

A staff pumps gasoline into a motorbike in District 1, Ho Chi Minh City, April 27, 2020. Photo by VnExpress/Quynh Tran

Surging fuel prices are increasing the pressure on companies which were already struggling to cope with months of plunging revenues due to Covid-19-restrictions and social distancing.

Still operating at only 30 percent of pre-pandemic levels, Hong Ha Transport in the northern province of Phu Tho has seen its financial situation worsen following the fuel price hikes.

"We do not have many customers, and revenues are not enough to cover expenses," Cao Viet Tu, a company spokesperson, told VnExpress International.

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