By Ros Dina
Ka-set
Unofficial translation from French by Luc Sâr
Click here to read the article in French
Click here to read the article in Khmer
Keat Chhon, the minister of Economy and Finance, recognized at the end of the week that the drop of the retail price of gasoline in Cambodia during the last few weeks is at a much slower pace than the drop of oil price on the international market. According to Keat Chhon, price adjustment could take several weeks to catch up.
Last week, the price of gasoline at retail pump stations would have dropped by 3%, according to Keat Chhon, whereas the drop of the price of oil was actually 6% during the same period of time.
“Between the oil refinery and the retail purchase in Cambodia, it can take up to two months. Imported gasoline purchased now is meant to be sold in two months, not immediately,” Keat Chhon justified. He also said that he is “closely following, each week, the evolution of price among the local gasoline distributors.” “The ministry of Finance will push for a lowering of price if it is not the case,” he added.
For Keat Chhon, this also shows “that there is still no real competition” on the Cambodian market, a situation which he deplores.
Last week, the price of gasoline at retail pump stations would have dropped by 3%, according to Keat Chhon, whereas the drop of the price of oil was actually 6% during the same period of time.
“Between the oil refinery and the retail purchase in Cambodia, it can take up to two months. Imported gasoline purchased now is meant to be sold in two months, not immediately,” Keat Chhon justified. He also said that he is “closely following, each week, the evolution of price among the local gasoline distributors.” “The ministry of Finance will push for a lowering of price if it is not the case,” he added.
For Keat Chhon, this also shows “that there is still no real competition” on the Cambodian market, a situation which he deplores.
2 comments:
What's the shame investment! Oil company in Cambodia buy lot of oil during high price for stock?
What kind of bussiness?
When international price increase, the price in local also increase,...no need time to finish out from the stock..? huh?
When it get down, need to wait to finish from stock?
Pls, you guys in Gov, see how normal cambodian survive day from day, you are all so rich, could you just a favor for the issue?
12:37, I agree with you completely. And I want to add that what the hell making the govt (MEF) feeling so afraid of those oil companies? Is it due to the fact that most oil companies are run, with no import duty, by the PM's affiliates/relatives?
Wake up guys in the govt. Please do something for the people. We the tax payers/voters really wish to see a people-oriented govt. Please, we are not asking for your entire devotion for the people, and we fully understand that you need more money for supporting your party, family and mistress, etc.; but could you kindly cut down half of corruption, cronyism, party orientation?
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