Logo of Phnom Penh Post newspaper Phnom Penh Post - Petrol, diesel rates set at 5,800, 6,300 riel per litre

Petrol, diesel rates set at 5,800, 6,300 riel per litre

Content image - Phnom Penh Post
Drivers filled up their vehicles at Caltex station in Phnom Penh's 7Makara district. Hong Menea

Petrol, diesel rates set at 5,800, 6,300 riel per litre

The retail price of diesel increased by about 3.28 per cent on June 21, while regular-grade petrol was held constant, according to a notice issued by the Ministry of Commerce.

For the June 21-30 period, the retail selling prices of fuel in the Kingdom have been set at 5,800 riel or $1.43 per litre of regular EA92 (petrol with an octane rating of at least 92) and 6,300 riel or $1.55 per litre of 50ppm diesel (with sulphur content no more than 50 parts per million), said the notice, which contains values in both currencies.

The corresponding rates for June 11-20 were 5,800 riel ($1.43) and 6,100 riel ($1.50) per litre of regular EA92 and diesel, respectively, up from 4,100 riel ($1.00) and 3,750 riel ($0.92) during the period ended December 31, 2021.

Fuel prices will continue to rise so long as the Russia-Ukraine conflict remains unresolved, which could have serious global consequence and put pronounced pressure on economic growth, observers have told The Post.

Compulsory for licensed filling stations – although usually not strictly enforced for street vendors, the rates are issued every first, 11th and 21st of the month, calculated using data extrapolated from fluctuations in crude prices on the international market, and a number of taxes and charges that may be adjusted based on feedback from meetings with local oil importers and other stakeholders.

The ministry notice shows that the current semi-monthly regular EA92 rate was computed by adding the $0.9408 average Means of Platts Singapore (MOPS) over June 13-20, $0.1716 in taxes and associated charges ($0.0847 in customs duty, $0.0200 in additional fees and $0.0669 in special fees) and $0.20 premium – summing up to about $1.312 – plus an extra 10 per cent surcharge on top of that and a one US cent discount from “the oil companies” for a total of $1.4337, which was then converted and adjusted to the final values.

Similarly, the diesel rate was formulated from a $1.1315 mean MOPS (over the same six working days), $0.0595 in taxes and associated charges ($0.0000 in customs duty, $0.0400 in additional fees and $0.0195 in special fees) and $0.23 premium – tallying up to around $1.421 – with a 10 per cent fuel surcharge and one US cent discount from the unnamed firms for a sum of $1.5531, which was then converted and rounded to the current values.

And as has been customary since May 21, the notice mentioned that the two current per-litre rates include a 6.5 US cent reduction greenlit by Prime Minister Hun Sen “to ease the people’s livelihoods”.

MOST VIEWED

  • Ream base allegations must end, urges official

    A senior government official urges an end to the allegations and suspicions surrounding the development of Cambodia’s Ream Naval Base, now that Prime Minister Hun Manet has addressed the issue on the floor of the 78th UN General Assembly (UNGA 78). Jean-Francois Tain, a geopolitical

  • Cambodia set to celebrate Koh Ker UNESCO listing

    To celebrate the inscription of the Koh Ker archaeological site on UNESCO’s World Heritage List, the Ministry of Cults and Religion has appealed to pagodas and places of worship to celebrate the achievement by ringing bells, shaking rattles and banging gongs on September 20. Venerable

  • CP denied registration documents by ministry

    The Ministry of Interior will not reissue registration documents to the Candlelight Party (CP). Following a September 21 meeting between ministry secretary of state Bun Honn and CP representatives, the ministry cited the fact that there is no relevant law which would authorise it to do

  • PM to open new Siem Reap int’l airport December 1

    Prime Minister Hun Manet and Chinese leaders would jointly participate in the official opening of the new Chinese-invested Siem Reap-Angkor International Airport on December 1. The airport symbolises a new page in the history of Cambodian aviation, which will be able to welcome long-distance flights to

  • Cambodian diaspora laud Manet’s UN Assembly visit

    Members of the Cambodian diaspora are rallying in support of Prime Minister Hun Manet’s forthcoming visit to the 78th UN General Assembly (UNGA 78) in the US’ New York City this week. Their move is an apparent response to a recent call by self-exiled former

  • Minimum wage set at $204, after Sep 28 vote

    The minimum wage for factory workers in the garment, footwear and travel goods industries for 2024 has been decided at $204 per month, with the government contributing $2. Following several negotiation sessions, the tripartite talks reached an agreement during a September 28 vote, with 46 of 51 votes supporting the $202 figure.