Cambodia's fuel prices drop following Middle East ceasefire agreement

Phnom Penh (ANTARA) - Retail fuel prices in Cambodia continue to decline following the agreement between the United States (US) and Iran for a two-week ceasefire, according to the Cambodian Ministry of Commerce on Tuesday (14/4) local time. In an announcement, the ministry stated that one litre of regular petrol will be priced at 5,100 riel (100 riel = Rp427) from Wednesday (15/4) until further notice, down 1.9 per cent from 5,200 riel in the previous five days. Diesel prices now stand at 6,400 riel per litre, a decrease of 7.24 per cent, while LPG prices remain unchanged at 3,900 riel per litre. Cambodian Prime Minister Hun Manet said on Saturday (11/4) that the General Department of Customs and Excise has provided subsidies amounting to approximately US$50 million (US$1 = Rp17,135) per month through reductions in taxes and import duties to minimise the impact of rising fuel prices.