Global Oil Price Drop Drives Down Gasoline Prices in Cambodia

Résumé détaillé

Gasoline prices have dropped by 700 riels or $0.17 per liter, after a fall in international oil prices and continuing government ...

PHNOM PENH – Gasoline prices have dropped by 700 riels or $0.17 per liter, after a fall in international oil prices and continuing government subsidies and tax reductions.

The Ministry of Commerce has set the retail price at 4,350 riels, or $1.07 per liter, calculated using an exchange rate of $1 to 4,084 riels, while diesel is 5,300 riels, or $1.30 per liter.

The prices were applied at retail fuel stations nationwide from the afternoon of November 11 to November 21.

In early November, gasoline was priced at 5,050 riels, or approximately $1.24 per liter, while diesel cost 5,650 riels, or about $1.38 per liter. Those prices were calculated using an exchange rate of $1 to 4,081 riels, the ministry said.

It attributed the reduction to falling international fuel prices. The Mean of Platts Singapore (MOPS) benchmark price for gasoline declined to $0.6903 per liter from $0.8559, while diesel prices fell to $1.0126 from $1.1030.

MOPS serves as a primary benchmark for refined fuel pricing across Southeast Asia.

Prime Minister Hun Manet said the government had spent more than $600 million to contain rising fuel prices amid international market pressures. He added that fuel costs could rise again without government intervention, particularly given the ongoing conflict in the Middle East.

The government provides a subsidy of 6.5 cents per liter to ease the burden on consumers, along with an additional one-cent-per-liter reduction when international prices exceed designated thresholds for gasoline and diesel.

Cambodia has also introduced customs duty exemptions on fuel imports and reduced special taxes to 15 percent for gasoline and 4 percent for diesel. Value-added tax has also been lowered from 10 percent to 4 percent for gasoline and eliminated for diesel.

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