Retail fuel prices in Cambodia are on the rise, attributed to the escalation of the Middle East conflict, as per the Ministry of Commerce. Effective Wednesday, a liter of regular gasoline will cost 5,450 riels ($1.36), marking a 9% increase from the previous 5,000 riels ($1.25) over the past three days. Diesel prices will also see an uptick to 7,500 riels ($1.88) per liter, up by 4.16% from 7,200 riels ($1.80).
The price of Liquefied Petroleum Gas (LPG) has surged to 3,900 riels ($0.97) per liter, showing a significant increase of 14.7% from 3,400 riels ($0.85). Since the onset of the Middle East conflict, Cambodia has witnessed a substantial spike in the prices of regular gasoline, diesel, and LPG by 41.5%, 94.8%, and 95%, respectively, according to the Ministry of Commerce.
In response to the mounting fuel prices, the government took steps to alleviate the impact by reducing import duties and taxes on fuel products on March 20. Additionally, on March 28, import duties were slashed on electric vehicles (EVs), passenger plug-in hybrid electric vehicles (PHEVs), electric stoves, and solar-powered devices.
Cambodia heavily relies on imported petroleum and diesel, as its untapped seabed oil reserves remain unexploited, as reported by Xinhua news agency. Recent reports indicate that eighteen out of 36 airlines operating flights to and from Cambodia have raised their air ticket prices due to increased fuel costs stemming from the Middle East conflict, according to a civil aviation spokesperson.
Sinn Chanserey Vutha, the spokesperson for the State Secretariat of Civil Aviation, disclosed that airlines have imposed a fuel surcharge on basic airfares based on flight distance. Domestic airlines have raised airfares by an average of $21, while foreign airlines have increased prices by around $28 on average, as per a news release.
