Logo of Phnom Penh Post newspaper Phnom Penh Post - Petrol, diesel rates increased to 5,800, 6,100 riel: ministry

Petrol, diesel rates increased to 5,800, 6,100 riel: ministry

Content image - Phnom Penh Post
A fuel attendant fills up a customer’s tank at a TELA filling station in northern Phnom Penh’s Russey Keo district on March 31. Hong Menea

Petrol, diesel rates increased to 5,800, 6,100 riel: ministry

The retail prices of regular-grade petrol and diesel respectively increased by about 2.65 per cent and 10.91 per cent on June 13, according to a notice issued by the Ministry of Commerce.

For the June 11-20 period, the retail selling prices of fuel in the Kingdom have been set at 5,800 riel or $1.43 per litre of regular EA92 (petrol with an octane rating of at least 92) and 6,100 riel or $1.50 per litre of 50ppm diesel (with sulphur content no more than 50 parts per million), said the notice, which contains values in both currencies.

The corresponding rates for June 1-10 were 5,650 riel ($1.39) and 5,550 riel ($1.37) per litre of regular EA92 and diesel, respectively, up from 4,100 riel ($1.00) and 3,750 riel ($0.92) during the period ended December 31, 2021.

Compulsory for licensed filling stations – although usually not strictly enforced for street vendors, the rates are calculated using data extrapolated from fluctuations in crude prices on the international market, and a number of taxes and charges that may be adjusted based on feedback from meetings with local oil importers and other stakeholders.

Ministry spokesman Penn Sovicheat previously noted that as an oil importer, Cambodia must set its fuel rates based on international market trends. The rising oil prices, fuelled by the Russia-Ukraine conflict, have prompted the government to cut taxes on fuel, hence reducing costs and making life a little easier for the people, he said.

Chea Chandara, president of the recently-renamed Logistics and Supply Chain Business Association in Cambodia (Loscba), said the soaring fuel rates would pose an array of difficulties for the transport sector, leading to increases in prices for services.

“Our customers are facing an additional 20 to 30 per cent increase in shipping costs. This is a global crisis that has undoubtedly affected international prices for oil – we still need to use it,” he said.

Even so, transport and supply chain activity has mostly recovered to normal levels, as dictated by demand, Chandara affirmed.

Royal Academy of Cambodia economics researcher Ky Sereyvath predicted that oil prices would maintain an uptrend due to the Ukraine crisis, which he described as a “show of power between the powerhouses”.

This will push up fuel prices and thus the cost of inputs, thereby contributing to global inflation and causing Cambodians to spend more, he said.

MOST VIEWED

  • Joy as Koh Ker Temple registered by UNESCO

    Cambodia's Koh Ker Temple archaeological site has been officially added to UNESCO’s World Heritage List, during the 45th session of the World Heritage Committee held in Riyadh, Saudi Arabia, on September 17. The ancient temple, also known as Lingapura or Chok Gargyar, is located in

  • Famed US collector family return artefacts to Cambodia

    In the latest repatriation of ancient artefacts from the US, a total of 33 pieces of Khmer cultural heritage will soon return home, according to the Ministry of Culture and Fine Arts. In a September 12 press statement, it said the US Attorney’s Office for the

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • Kampot curfew imposed to curb ‘gang’ violence

    Kampot provincial police have announced measures to contain a recent spike in antisocial behaviour by “unruly’ youth. Officials say the province has been plagued by recent violence among so-called “gang members”, who often fight with weapons such as knives and machetes. Several social observers have

  • PM outlines plans to discuss trade, policy during US visit

    Prime Minister Hun Manet is set to meet with senior US officials and business leaders during his upcoming visit to the US for the UN General Assembly (UNGA), scheduled for September 20. While addressing nearly 20,000 workers in Kampong Speu province, Manet said he aims to affirm

  • Manet touches down in Beijing for high-level meetings

    Prime Minister Hun Manet arrived in Beijing on September 14 for his first official visit to China, where he is slated to attend the 20th China-ASEAN Expo and meet other leaders including Chinese President Xi Jinping. Upon his arrival, Manet laid a wreath at the Monument