PHNOM PENH: (Bernama-Xinhua) Retail fuel prices in Cambodia have dropped further after Iran declared the opening of the Strait of Hormuz, the Commerce Ministry said on late Friday (April 17), reported Xinhua.
In an announcement, the ministry said a litre of regular gasoline is now priced at 4,950 riels (US$1.24) from this Saturday until the next notice, down 2.9 per cent from 5,100 riels (US$1.28) in the last three days.
Diesel now costs 5,700 riels (US$1.42) per litre, down 10.9 per cent, the announcement added.
Cambodian Prime Minister Hun Manet said last Saturday that the General Department of Customs and Excise has subsidised approximately US$50 million a month to minimise the impact of rising fuel prices.
The subsidies have been provided through the reduction of import duties and taxes on oil and gas, as well as the reduction of import duties on electric vehicles, passenger plug-in hybrid electric vehicles, electric stoves, and solar-powered devices.
The Southeast Asian country is entirely reliant on imported petroleum and diesel. - Bernama-Xinhua
