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Saturday, May 21, 2022

Rising fuel cost forces Grab to revise up fares

The Saigon Times

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HCMC – Grab is the first ride-hailing firm in Vietnam to raise fares for all of its services from March 10, with the spike in domestic fuel prices cited as the main reason.

Grab will raise the GrabCar five-seater service fee in Hanoi and HCMC to VND29,000, and the seven-seater fee to VND34,000 for the first two kilometers, both up VND2,000 against the current levels. The GrabCar service fees will also edge up VND10,000 per kilometer after the first two kilometers, up by VND500, said local news reports.

In other provinces and cities, the GrabCar fares will also be adjusted up by VND2,000-VND2,500 for the first two kilometers, and up by VND600 per kilometer from the third kilometer onward.

For the GrabBike service in Hanoi, passengers will be charged VND13,500 for the first two kilometers, up VND1,500, and VND4,300 per kilometer after that, up VND300. In HCMC, the fare will rise to VND12,500 for the first two kilometers and VND4,300 for each of the following kilometers.

Similarly, the fare hike will be applicable to other services, such as GrabExpress, GrabMart and GrabFood.

The ride-hailing service provider said the fare increase is aimed at coping with the volatility in domestic fuel prices and consumer prices. The move is expected to help its driver-partners improve incomes and encourage them to continue working.

Previously, Grab increased its service fares in late 2020.

Regarding domestic fuel prices, after being adjusted up six consecutive times, the gasoline prices in the local market are nearing VND27,000 per liter, the highest level so far.

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