The fares will be cut from VND500 (US$0.02) to VND800 ($0.04) per kilometre from this week, following the fall in domestic petrol prices last week. — Photo phapluat.vn

DA NANG (Biz Hub) — Six taxi firms in the central city will cut their fares this week, Chairman of the city's taxi association Vo Thanh Nhan told Biz Hub.

The fares will be cut from VND500 (US$0.02) to VND800 ($0.04) per kilometre from this week, following the fall in domestic petrol prices last week.

The decision to cut fares was announced at a meeting of the taxi association last week. The reduction in fares will be based on each firm's decision, Nhan added.

Petrol and oil retailers reduced the prices of RON 92 and RON 95 gasoline by VND950 to VND21,390 and VND21,990 per litre respectively.

The price of the 0.05S and 0.25S diesel varieties was also cut by VND520 to stand at VND19,240 per litre.

Mai Linh taxi, one of the leading taxi companies in the city with 438 cars, has offered the largest fare cut, ranging from VND700 (US$0.03) to VND2,000 ($0.09) per kilometre from November 10.

The firm operates 2,300 green-coloured taxis in 15 provinces in the central and Central Highlands region.

The Phu Hoang Corporation, which owns the Tien Sa Taxi, will cut fares from VND700 ($0.03) to VND1,500 ($0.07) from November 10.

However, trucks and passenger transport companies have found it difficult to make adjustments in their rates, as they need time to reprint tickets and seek the tax and administrative agencies' approval.

More than 1,000 taxis in the city have installed the Global Positioning System (GPS) car tracking system since last year.

According to the Department of Transport, 1,300 buses and 879 trucks have already installed GPS tracking equipment. — VNS