Phnom Penh, April 4: The ongoing conflict in the Middle East has led to a significant oil crisis affecting Cambodia. The Ministry of Commerce announced that diesel prices have more than doubled since the onset of the conflict.
In a statement released on Friday night, the ministry revealed that the price of one liter of diesel now stands at 8,100 riel (approximately $2.03), marking a 110% increase from 3,850 riel ($0.96) at the end of February.
Additionally, the price of regular gasoline has risen to 5,500 riel ($1.37) per liter, up 42.8% from 3,850 riel ($0.96) at the end of February. Liquefied petroleum gas (LPG) prices have also surged to 3,900 riel ($0.97) per liter, a 95% increase from 2,000 riel ($0.50) in late February.
According to the news agency Xinhua, to mitigate the impact of rising fuel prices, the government reduced import duties and taxes on fuel products on March 20. Furthermore, on March 28, the government decided to lower import duties on electric vehicles, passenger plug-in hybrid electric vehicles, electric stoves, and solar-powered devices.
Cambodia is heavily reliant on imported petroleum and diesel, as its offshore oil reserves have yet to be tapped. Previously, a spokesperson for civil aviation noted that, as of March 31, 18 out of 36 airlines operating in Cambodia had increased their ticket prices due to rising fuel costs stemming from the Middle East conflict.
Secretary of State and spokesperson for the State Secretariat of Civil Aviation, Sin Chanserey Vutha, stated that airlines have added fuel surcharges to their base fares based on flight distance. In a news release, he mentioned that four domestic airlines have raised their fares by an average of approximately $21, while foreign airlines have increased their fares by an average of about $28.
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