BERNAMA
PHNOM PENH, TUES: Pressure from the government has propelled the fuel providers in Cambodia to decrease their retail prices a little, and more price cutting can be expected in the future, China’s Xinhua news agency quoted a report in English-language newspaper the Phnom Penh Post Tuesday.
Petrol and diesel prices at most Phnom Penh stations dropped 400 to 500 riels (about US$0.10) per liter at the weekend, following a meeting last week between the government and oil companies, where finance officials pressed for a cut in pump prices, said the paper.
“We ask all major companies to consider reducing petrol and diesel prices,” Chuo Vichet, chief of cabinet at Ministry of Finance and Economy, was quoted as saying.
“We didn’t order (oil companies) to cut petrol prices, but being partners, we hope companies to reduce prices step by step,” he said.
“We understand that this is a free-market economy, but the government is hoping petroleum distributors to drop price to a reasonable level for consumers,” he added.
During the meeting here Thursday, Minister of Finance and Economy Keat Chhon talked with petroleum majors Sokimex, PTT, Kampuchea Tela, Total Cambodge, Caltex and Savimex on price cut.
After the preliminary cut, petrol and diesel at most Phnom Penh stations now sells at 5,200 riels (some US$1.27) a liter for premium fuel.
Cambodia’s oil consumption totally depends on imports and about 100,000 tons are imported per month, according to the government.
Petrol and diesel prices at most Phnom Penh stations dropped 400 to 500 riels (about US$0.10) per liter at the weekend, following a meeting last week between the government and oil companies, where finance officials pressed for a cut in pump prices, said the paper.
“We ask all major companies to consider reducing petrol and diesel prices,” Chuo Vichet, chief of cabinet at Ministry of Finance and Economy, was quoted as saying.
“We didn’t order (oil companies) to cut petrol prices, but being partners, we hope companies to reduce prices step by step,” he said.
“We understand that this is a free-market economy, but the government is hoping petroleum distributors to drop price to a reasonable level for consumers,” he added.
During the meeting here Thursday, Minister of Finance and Economy Keat Chhon talked with petroleum majors Sokimex, PTT, Kampuchea Tela, Total Cambodge, Caltex and Savimex on price cut.
After the preliminary cut, petrol and diesel at most Phnom Penh stations now sells at 5,200 riels (some US$1.27) a liter for premium fuel.
Cambodia’s oil consumption totally depends on imports and about 100,000 tons are imported per month, according to the government.
3 comments:
what Cambodian people need is that government to press the company to reduce gas price proportionally with the international price. These companies increase their price faster than decreasing. The governement can do this effectively if their officials are not corrupt and they don't have th conflict of interest...
the retail fuel price at the stations in Cambodia remain high even the price of oil at the international market dropped since mid july 2008. The companies made a lot of money in last 30 days without intervention of the government (oh it's company of the family of the head of the governent, that why there was no presure from the government).
Beside the intervention, the retail price still very high about riel 5600 per litre (as of August 18) appxo. US$1.38/liter. This price is equivalent of US$ 144 per barrel (in late June or early July 2008) at international market. BUT BUT it's not the case, at the international maket price of oil hes dropped to US$111/berrel on August 16.
The capacity of the government to make it happen (cheapper)is in question......
It's all determined by Bun Ranni anyway, how much more profit she want for her tela!
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