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Cambodia Fuel Prices Drop After West Asia Ceasefire, Tax Cuts Ease Burden

Retail fuel prices in Cambodia have decreased further following a two-week ceasefire agreement between the United States and Iran in West Asia. The Ministry of Commerce announced new lower prices for regular gasoline and diesel, while liquefied petroleum gas costs remain unchanged. Prime Minister Hun Manet stated that customs authorities are subsidizing tens of millions of dollars monthly through reduced import duties and taxes to cushion consumers. Cambodia is entirely dependent on imported petroleum as it has not yet begun exploiting its own seabed oil reserves.

Key Points: Cambodia Fuel Prices Fall After Ceasefire, Government Subsidies

  • Gasoline price drops to 5,100 riels
  • Diesel sees 7.24% price cut
  • Government provides monthly subsidies
  • Country relies entirely on fuel imports
  • Ceasefire in West Asia reduces market pressure
2 min read

Retail fuel prices in Cambodia drop following two-week ceasefire in West Asia

Retail fuel prices in Cambodia decline as US-Iran ceasefire eases pressure. Government subsidies cut import duties to minimize impact on consumers.

"subsidised about 50 million dollars a month... to minimise the impact of rising fuel prices - Cambodian Prime Minister"

Phnom Penh, April 15

Retail fuel prices in Cambodia have declined further after the United States and Iran agreed to a two-week ceasefire, the Ministry of Commerce said.

In an announcement, the ministry said a litre of regular gasoline is priced at 5,100 riels (about 1.28 US dollars) from this Wednesday until the next notice, down 1.9 per cent from 5,200 riels (about 1.3 dollars) in the past five days.

Diesel now costs 6,400 riels (about 1.6 dollars) per litre, down 7.24 per cent, while the price of Liquefied Petroleum Gas is unchanged at 3,900 riels (about 0.97 dollars) per litre.

Cambodian Prime Minister Hun Manet said last Saturday that the General Department of Customs and Excise has subsidised about 50 million dollars a month through the reduction of import duties and taxes to minimise the impact of rising fuel prices.

Earlier on April 10, in an announcement, the Ministry of Commerce announced that a litre of regular gasoline costs 5,200 riels (1.3 US dollars) until the next notice, down 5.4 per cent from 5,500 riels (1.37 dollars) in the past three days.

Diesel is now priced at 6,900 riels (1.73 dollars) per litre, down 15.8 per cent from 8,200 riels (2.05 dollars), the announcement added.

Meanwhile, the price of Liquefied Petroleum Gas is flat at 3,900 riels (0.97 dollars) per litre.

The General Department of Customs and Excise of Cambodia said on Wednesday that it has subsidised about 47 million US dollars a month to minimise the impact of rising fuel prices caused by the Middle East conflict.

The subsidies have been made through the reduction of import duties and taxes on oil and gas, and the reduction of import duties on electric vehicles, passenger plug-in hybrid electric vehicles, 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.

- IANS

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Reader Comments

P
Priya S
Interesting to see Cambodia's approach. A $50 million monthly subsidy is huge for their economy. In India, we feel every rupee increase at the pump. Peace in West Asia is crucial for stable oil prices worldwide. Let's hope the ceasefire holds.
R
Rohit P
The reduction in import duties on electric vehicles and solar devices is a smart, forward-thinking move by Cambodia. We need more of this long-term planning in India too, not just short-term fuel price fixes. Transition to green energy is the real solution.
S
Sarah B
The article mentions Cambodia entirely relies on imports. It's a stark reminder of energy security. India is also heavily import-dependent. We must accelerate our own exploration and renewable energy projects to reduce this vulnerability.
V
Vikram M
A small drop of 1.9% in petrol but 7.24% in diesel! That's significant for transport and goods costs. In India, diesel price affects everything from vegetables to bus fares. Hope our prices also see a meaningful correction soon. 🙏
K
Kavya N
While the subsidy is welcome, it's essentially taxpayers' money being used. I respectfully think the focus should be on building strategic reserves and diversifying supply sources, like India is trying to do, rather than perpetual subsidies.
M
Michael C

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

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