Retail fuel prices in Cambodia have decreased following Iran’s announcement of the opening of the Strait of Hormuz, as stated by the Ministry of Commerce. A liter of regular gasoline now costs 4,950 riels (1.24 US dollars), down by 2.9% from the previous price of 5,100 riels (1.28 dollars) over the last three days. Diesel prices have also fallen to 5,700 riels (1.42 dollars) per liter, marking a 10.9% decrease.
Cambodian Prime Minister Hun Manet revealed that the General Department of Customs and Excise (GDCE) is providing around 50 million dollars monthly in subsidies to mitigate the impact of rising fuel costs. These subsidies involve reductions in import duties and taxes on oil, gas, electric vehicles, passenger plug-in hybrid electric vehicles, electric stoves, and solar-powered devices. The country heavily relies on imported petroleum and diesel for its energy needs.
In response to Iran’s declaration of opening the Strait of Hormuz, US President Donald Trump expressed gratitude for the full reopening of the passage. Iran had previously restricted vessel passage through the Strait in response to joint attacks by Israel and the United States. The United States, in turn, had imposed a blockade on the Strait, affecting ships traveling to and from Iranian ports.
