Cambodia's Diesel Prices Skyrocket Amid Middle East Tensions
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Phnom Penh, April 4 (NationPress) The price of diesel in Cambodia has surged more than twice since the escalation of the Middle Eastern conflict, as reported by the Ministry of Commerce.
In a statement released on Friday evening, the ministry disclosed that the cost of a liter of diesel has reached 8,100 riels ($2.03), marking a 110% increase from 3,850 riels ($0.96) at the end of February.
Additionally, regular gasoline is now priced at 5,500 riels ($1.37) per liter, reflecting a 42.8% rise from 3,850 riels ($0.96) at the close of February, according to the ministry's announcement.
The cost of Liquefied Petroleum Gas (LPG) has also grown to 3,900 riels ($0.97) per liter, up 95% from 2,000 riels ($0.50) at the end of February.
To alleviate the burden of escalating fuel prices, the government implemented a reduction in import duties and taxes on fuel products on March 20, as reported by Xinhua News Agency.
Furthermore, on March 28, the government decided to lower import duties on electric vehicles (EVs), passenger plug-in hybrid electric vehicles (PHEVs), electric stoves, and solar-powered devices.
The Southeast Asian nation depends entirely on imported petroleum and diesel, as its seabed oil reserves remain untapped.
On March 31, it was noted that eighteen out of 36 airlines operating flights to and from Cambodia had raised their air ticket prices due to rising fuel costs linked to the conflict in the Middle East, according to a spokesperson for civil aviation.
Sinn Chanserey Vutha, the secretary of state and spokesperson for the State Secretariat of Civil Aviation, indicated that airlines have incorporated a fuel surcharge into their basic airfares based on the distance of the flights.
Four domestic airlines have increased their fares by about $21 on average, while foreign airlines have raised theirs by around $28 on average, as stated in a news release.