PHNOM PENH, Nov. 6 (Xinhua) -- Gasoline and diesel prices have surged by around 10 percent at the pump in Cambodia, local media reported Tuesday.Prices at Phnom Penh's Chevron (former Caltex), Sokimex, Total and Tela stations jumped to 4,450 riel (about 1.1 U.S. dollars) Monday from 4,050 riel (about one dollars) per liter for "premium" gasoline, the Cambodia Daily newspaper said.
Diesel prices also increased from 3,300 riel (about 0.81 dollars) to 3,650 (about 0.9 dollars) riel per liter, it added.
Cambodia would not join the ranks of other nations using subsidies to stabilize petroleum prices, Men Den, director of the Petroleum Exploration and Production Division for the Cambodian National Petroleum Authority, was quoted by the newspaper as saying.
When oil prices go up they tend to stay up, Men Den said, adding that Cambodia's as yet untapped offshore oil reserves are the best chance for bringing down costs.
Meanwhile, analysts cited strong global demand, geopolitical concerns and Cambodian taxes for the high prices that consumers currently face, the newspaper said.
Sok Kong, president of Cambodian petroleum company Sokimex, blamed the price increase on the world market, which has pushed crude oil prices to nearly 100 dollars per barrel.
He added that there seem to be no sign of the situation abating.
10 comments:
The gasoline price increase will kill Cambodian economy for sure.
It is time for Cambodia to establish alternative fuel such converting corns into biodiesel, vegetable oil or methanol to power cars, motorcycles, and factories!
Hey, if you know about that stuff, come on down. We got plenty land for lease, hurry, hurry, hurry!
To 12:24PM!
Did you say land for lease? So you want my money first? Right? Is it one of those 99 years contract?
I will have to do some serious calculation on the large scale mass production or even a small scale production to see if it profitable and if it is not profitable I am not going to do it!
Well, isn't that how it goes when you lease a car, house, boat, or land? I mean you have to pay something up front.
As for 99 years, don't worry about that. We are flexible. We can start you off with a 20 years lease, and if you want to shorten or extend it, just let us know as early as you can. How's that sound?
To 1:17PM
It sound like dirt poor Cambodian people won't have land to live on!
Hey, we are not obligated to give land to every Ah Khmer-Youn from south vietnam to live on. They have to work for someone and earn the money to buy their own land themselves.
Our P.M. says that in Cambodia the gasoline price is still cheaper as compare to the others countries like France, US ... But our P.M. has also forgotten that most of Cambodian people earns less than 2 dollars per day. If our P.M. knows that he should also compare the cost of living between one of poorest country like Cambodia to the most wealthy countries above.
Please, be little bit cleaver Mr. P.M.
We know who this Animal Viet troller @4:16PM that pretending to be Khmer speaking for Khmer is. This animal Viet troller will be castrated and then euthanized when time comes.
Go home Viet troller!
Go home Vietcong!
5:03 is Ah Khmer-Yuon who killed many khmers.
Give up Viet troller @4:09AM, give up!
We know who this Animal Viet troller @4:09AM that is pretending to be Khmer speaking for Khmer is. This animal Viet troller will be castrated and then euthanized when time comes.
Go home Viet troller!
Go home Vietcong!
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