Fuel price caps steady as crude heating up

The Ministry of Commerce yesterday announced revised price caps on fuel sold at retail petrol stations throughout the Kingdom from June 12-21, setting a price ceiling of 3,450 riel per litre on regular gasoline, 3,500 riel per litre on premium gasoline and 3,150 riel per litre on diesel.

The revised prices, calculated according to a fuel pricing mechanism adopted in March, left the cap unchanged on gasoline while making minor adjustments to premium and diesel. Brent crude prices have nearly doubled since hitting 10-year record lows in February and were trading at $50.95 a barrel on Friday.

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