PHNOM PENH, March 13 (Xinhua) -- Economists have warned that the continuing rise of gasoline prices might affect prices across the board and slow Cambodia's economy, the Mekong Times newspaper said Thursday.
In Phnom Penh, gasoline costs had increased from about 4,500 riel (about 1.13 U.S. dollars) for a liter of premium last week to about 4,750 riel (about 1.19 U.S. dollars) Wednesday, and diesel from about 3,900 (about 0.98 U.S. dollars) riel to 4,200 (about 1.05 U.S. dollars) riel for the same period in some company's petrol stations.
That marks a more than 5 percent increase, the newspaper said.
"It affects everyone directly or indirectly," Chan Sophal, president of the Cambodian Economic Association, was quoted as saying.
The climbing gas prices will raise production and transportation costs, and that will lead to an across-the-board price increase, he said.
It could also slow down the economy, as people will have less disposable income to consume and fuel the economy, he added.
Consumer prices in Cambodia hit a record-high increase of 18.7 percent from January 2007 to January 2008, according to the National Institute of Statistics.
In Phnom Penh, gasoline costs had increased from about 4,500 riel (about 1.13 U.S. dollars) for a liter of premium last week to about 4,750 riel (about 1.19 U.S. dollars) Wednesday, and diesel from about 3,900 (about 0.98 U.S. dollars) riel to 4,200 (about 1.05 U.S. dollars) riel for the same period in some company's petrol stations.
That marks a more than 5 percent increase, the newspaper said.
"It affects everyone directly or indirectly," Chan Sophal, president of the Cambodian Economic Association, was quoted as saying.
The climbing gas prices will raise production and transportation costs, and that will lead to an across-the-board price increase, he said.
It could also slow down the economy, as people will have less disposable income to consume and fuel the economy, he added.
Consumer prices in Cambodia hit a record-high increase of 18.7 percent from January 2007 to January 2008, according to the National Institute of Statistics.
2 comments:
You don't have to be an expert to know that.
However, we shouldn't panic over this issue because we have the best of the best people on top of it. They know how to grab the bull by the horn to soften the impact.
How the CPP going to "grab the bull by the horn" 11:48?
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