PHNOM PENH: Energy Minister Keo Rattanak has issued a stern warning that the licences of any petrol station found to be increasing fuel prices above government-set levels will be revoked.
The announcement comes amid concerns of potential fuel shortages stemming from the ongoing conflict involving the US, Israel, and Iran. New fuel prices are currently set for three-day periods.
During a public forum today, Rattanak assured the public that Cambodia continues to receive a steady inflow of fuel supplies. He stated that in the event of an import stoppage, the kingdom possesses sufficient reserves to last 21 days.
"We are not in a situation of fuel shortage," Rattanak clarified.
"If there were no fuel imports, we would have enough fuel for 21 days, but currently, we import fuel every day."
“The problem is that the fuel price has now increased, and newly imported fuel will consequently be at a higher price,” he added.
The minister also cautioned the public against storing petrol at home due to safety risks, emphasising the potential for tragedy. He reiterated that any gasoline station found to be exceeding government-set prices would face fines and license revocation.
"If you do not respect the conditions set and do not follow the government’s decision, the Ministry of Mines and Energy will revoke the license and ban you from the gasoline trade forever," he declared.
He further noted that the Ministry of Commerce would also impose additional fines.
Rattanak urged gasoline station owners to adhere strictly to government instructions to safeguard their licenses.
He also advised retailers to cease purchasing large quantities of gasoline from stations for resale at home, citing the inherent dangers. Those engaging in such practices will face arrest.
"If you buy 20 litres from the station and resell it at a price higher than what is sold at the station, you will be arrested," he warned.
According to Rattanak, the government is actively negotiating with companies from the US, France, Singapore, and Malaysia to secure fuel imports for the kingdom. He confirmed that, thus far, there is no indication that gasoline imports would be banned.
Meanwhile, the Ministry of Commerce today released updated fuel prices for March 8-10, setting gasoline at 4,400 riel (approximately $1.10) and diesel at 5,150 riel (approximately $1.28) per litre. - The Phnom Penh Post/ANN
