Cambodia Spends US$47 Mln Monthly To Ease Fuel Price Hike

PHNOM PENH, April 8 (Bernama-Xinhua) -- Cambodia is subsidising around US$47 million per month to ease the impact of rising fuel prices caused by the West Asia conflict, according to a news release by the  General Department of Customs and Excise (GDCE) on Wednesday, reported Xinhua.

The subsidies have been implemented through reduced import duties and taxes on oil and gas, as well as lower import duties on electric vehicles, passenger plug-in hybrid electric vehicles, electric stoves, and solar-powered devices.

"These measures have been taken to ease the burden of businesspeople and common consumers in the face of rising global fuel prices," the news release said, adding that the subsidies were also to ensure the sustainability of oil and gas supply.

A litre of diesel in Cambodia is now priced at 8,200 riels (US$2.05), up 113 per cent from the end of February, according to the Commerce Ministry.

Regular petrol now costs 5,500 riels (US$1.37) per litre, representing an increase of 42.8 per cent since the end of February, while the price of liquefied petroleum gas is 3,900 riels (US$0.97) per litre, up 95 per cent.

The Southeast Asian country relies entirely on imported petroleum and diesel. 

-- BERNAMA-XINHUA