The government issued its first scheduled recalculation of the fuel-pricing mechanism it rolled out on March 15, increasing the price cap on gasoline by 100 riel.

The revised ceilings, which come into effect today, require petroleum retailers in the Kingdom to sell gasoline at or below 3,150 riel for regular, 3,250 per litre for premium and 2,750 riel per litre for diesel, the Ministry of Commerce said yesterday.

The fuel-pricing mechanism aims to ensure local petrol prices are responsive to changes in global oil prices. The next scheduled price recalculation is set for April 1.