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Prakas removes price cap on premium petrol

Prakas removes price cap on premium petrol

The government will continue to set a price ceiling on regular gasoline and diesel but will no longer regulate the retail price of premium gasoline, the Ministry of Mines and Energy (MME) announced on Friday.

It cited an interministerial prakas jointly issued by the MME, Ministry of Commerce, and the Ministry of Economy and Finance on September 15 that removes premium gasoline from the government’s fuel pricing mechanism, which recalculates retail fuel price caps every 10 days using a formula that aims to reflect changes in global oil prices.

The existing caps announced by MoC, valid from September 22 through October 1, set a maximum retail price of 3,800 riel per litre on regular gasoline and 3,500 riel per litre on diesel. A price ceiling of 3,900 riel per litre was imposed on premium despite the earlier prakas.

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