Logo of Phnom Penh Post newspaper Phnom Penh Post - Government announces lower price cap amid oil rally

Government announces lower price cap amid oil rally

Government announces lower price cap amid oil rally

The government announced yesterday that it is lowering the price cap on petrol and diesel sold at retail petrol stations across the Kingdom effective today through October 21 in an effort to reflect changes in global oil prices.

A statement issued by the Ministry of Commerce sets the price ceiling on regular petrol at 3,700 riel per litre during the 10-day period, with diesel capped at 3,400 riel per litre. The revision comes as Benchmark crude oil prices showed signs of recovery, climbing to $56.77 per barrel yesterday after falling since late September.

MOST VIEWED

  • Woman detained for murder of hairdresser over unpaid $1K debt

    A woman has been held in connection with the murder of a 40-year-old widow. The victim’s daughter claims the motive was the suspect’s unpaid four million riel ($1,000) debt to her mother. The 17-year-old girl, Pich Sievmey, said her mother, Koem Yaneang, a hairdresser

  • ‘Life goes on’ if Cambodia loses Everything But Arms

    Cambodia's business sector is exploring ways to mitigate any fallout from a possible loss of access to the EU’s Everything But Arms (EBA) agreement as talks continue before the 28-member bloc makes a final decision. The EU monitoring process is set to conclude in

  • Nesat beach: A magnet drawing tourists to the Kingdom’s coastline

    A white sandy beach lined by countless coconut trees awaits travellers off Cambodia’s southwest coast in Koh Kong province’s Srae Ambel district, about 170km from Phnom Penh. Over the past few years Nesat beach – a name inspired by a nearby fishing village – has

  • Woman confesses to murder, dismemberment over debt

    The daughter of a woman who was killed and dismembered in Phnom Penh earlier this month requested the authorities on Wednesday to impose the death penalty on the woman who killed her mother, after listening to the killer confess and describe her gruesome actions without