Cambodia's fuel prices continue to rise due to Middle East conflict

Phnom Penh (ANTARA) - Cambodia’s Ministry of Commerce stated on Wednesday (25/3) that retail fuel oil prices in Cambodia continue to rise due to the escalation of the conflict in the Middle East.

In the announcement, Cambodia’s Ministry of Commerce noted that the price of regular petrol will reach 5,450 Cambodian riels (one Cambodian riel = Rp4.20) or 1.36 US dollars (one US dollar = Rp16,905) per litre from Thursday (26/3) until further notice, a slight increase of 0.92% from 5,400 riels over the past seven days.

The diesel price is set at 7,100 riels or approximately 1.77 US dollars per litre, up 5.97% from 6,700 riels, the announcement added.

Also on Thursday, the LPG price will reach 3,200 riels or approximately 0.79 US dollars per litre.

Since the outbreak of the conflict in the Middle East, regular petrol, diesel, and LPG prices in Cambodia have surged by 41.5%, 84%, and 60% respectively, according to Cambodia’s Ministry of Commerce.

Since last week, the Cambodian government has reduced import duties and taxes on petrol and diesel products, aiming to mitigate the impact of rising international oil prices and alleviate the burden on consumers.

The Southeast Asian country is entirely dependent on imported crude oil and diesel, as its offshore oil reserves have yet to be exploited.