Gasoline prices to rise by another 30 pct: VinaCapital

Employees refill a gas station storage tank in Hanoi, March 11, 2022. Photo by VnExpress/Ngoc Thanh

Gasoline prices in Vietnam could rise by another 30 percent in the next few months, which in turn could drive inflation up, investment fund VinaCapital has warned.

Russia’s attack on Ukraine has caused global oil prices to rise by nearly 40 percent, and by 70 percent at one point, and this could add 1.5 percentage points to Vietnam’s inflation rate, Michael Kokalari, the fund’s chief economist, said in a recent note.

"The escalation to inflation from higher oil prices that we are envisioning would leave inflation in Vietnam at around 3 percent, which is still below the government’s stated maximum 4 percent inflation target for 2022".

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