NewKerala.com

Cambodia Fuel Prices Soar 95% Amid Middle East Conflict Impact

Retail fuel prices in Cambodia have increased again, with regular gasoline now costing $1.36 per liter. The Ministry of Commerce attributes the continuous rise to the ongoing Middle East conflict, noting that diesel and LPG prices have nearly doubled since the conflict began. In response, the government has reduced import duties and taxes on fuel products and electric vehicles to ease the burden. The price surge has also forced airlines to add fuel surcharges, increasing domestic and international airfares by approximately $21 to $28.

Key Points: Cambodia Fuel Prices Rise Due to Middle East Conflict

  • Gasoline up 9% to $1.36/liter
  • Diesel up 4.16% to $1.88/liter
  • LPG surges 14.7% to $0.97/liter
  • Government cuts import duties on fuel and EVs
  • Airlines add fuel surcharges raising ticket prices
2 min read

Fuel prices in Cambodia continue to rise amidst ongoing Mideast conflict

Cambodia's fuel prices surge up to 95% due to Middle East conflict, prompting government tax cuts and higher airfares. Latest price updates.

"the prices of regular gasoline, diesel, and LPG in Cambodia have risen by 41.5 per cent, 94.8 per cent, and 95 per cent, respectively - Ministry of Commerce"

Phnom Penh, April 1

Retail fuel prices in Cambodia continued to rise due to the escalation of the Middle East conflict, the Ministry of Commerce said.

In an announcement on Tuesday midnight, the ministry said a liter of regular gasoline will cost 5,450 riels ($1.36) from Wednesday until the next notice, up 9 per cent from 5,000 riels ($1.25) in the past three days.

Diesel will go for 7,500 riels ($1.88) per liter, up 4.16 per cent from 7,200 ($1.80) riels, the announcement added.

Also, the price of Liquefied Petroleum Gas (LPG) climbed to 3,900 riels ($0.97) per liter, up 14.7 percent from 3,400 riels ($0.85).

Since the outbreak of the Middle East conflict, the prices of regular gasoline, diesel, and LPG in Cambodia have risen by 41.5 per cent, 94.8 per cent, and 95 per cent, respectively, according to the Ministry of Commerce.

In an effort to mitigate the impact of rising fuel prices, the government reduced import duties and taxes on fuel products on March 20.

On March 28, the government decided to reduce import duties on electric vehicles (EVs), passenger plug-in hybrid electric vehicles (PHEVs), electric stoves, and solar-powered devices.

The Southeast Asian country entirely relies on imported petroleum and diesel, as its seabed's oil reserves have not been exploited yet, Xinhua news agency reported.

Earlier, on March 31, eighteen out of 36 airlines operating flights to and from Cambodia had increased their air ticket prices due to rising fuel costs caused by the Middle East conflict, according to a civil aviation spokesperson.

Sinn Chanserey Vutha, secretary of state and spokesperson for the State Secretariat of Civil Aviation had said that the airlines have added a fuel surcharge on their basic airfares based on flight distance.

Four domestic airlines had increased their airfares by about $21 on average, as foreign airlines have averagely raised their airfares by approximately $28, he had said in a news release.

- IANS

Share this article:

Reader Comments

S
Shreya B
A 95% increase in diesel prices is absolutely brutal for the common man. It's not just about cars; it increases the cost of transporting every single good. The Cambodian government's tax cuts are a good step, but it feels like putting a band-aid on a deep wound.
A
Aman W
Interesting to see they are promoting EVs and solar devices by reducing duties. That's the way forward! We need more countries, including India, to aggressively push for energy independence through renewables. Can't keep being at the mercy of global conflicts.
M
Michael C
The airline surcharge detail hits home. Was planning a trip to Siem Reap later this year. Now have to factor in an extra $28 or so. It's a stark reminder of how interconnected the world's economy is. A conflict far away impacts vacation plans in Southeast Asia.
P
Priya S
My heart goes out to the people there. LPG price hike of 14.7% in just a few days? That's cooking gas! For a country that relies entirely on imports, this must be causing real hardship. It shows why developing local resources, like their seabed oil, is so crucial.
K
Karthik V
While the government's efforts to reduce taxes on EVs and solar are commendable, one has to ask if the initial duty structure was too high to begin with. Sometimes it takes a crisis for policy correction. Hope other nations learn and proactively build resilient energy policies.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50