Cambodia has officially implemented new retail prices for fuel across the nation, with regular gasoline now set at 4,400 Riel per liter and diesel at 5,150 Riel per liter. This revised pricing structure, mandated by the Ministry of Commerce, came into effect recently and is slated to remain until at least March 10th, with strict adherence required from all fuel stations and depots.
Authorities are taking a firm stance against any deviations from these mandated prices. Fuel station and depot owners found selling above the stipulated rates will face severe penalties, ranging from 4 million to 10 million Riel. These fines will be enforced by the Consumer Protection, Competition and Anti-Fraud Directorate-General (CCF). Mr. Meas Sokseiha, Director-General of the CCF, emphasized that persistent non-compliance could lead to the revocation of business licenses, effectively banning operators from the fuel sector.
This recent increase in fuel prices is primarily attributed to ongoing conflicts in the Middle East, which have significantly impacted global oil markets, inevitably leading to a surge in prices within Cambodia. Previously, regular gasoline was priced at 3,850 Riel per liter, indicating a substantial jump to the current 4,400 Riel. Diesel prices have seen an even more dramatic rise, climbing from 3,850 Riel per liter on March 7th to the current 5,150 Riel, marking an increase of 1,300 Riel in a short period. The Ministry of Commerce has also issued a cautionary note, warning that fuel prices could potentially see further increases come March 11th.
Despite the rising prices, the Ministry of Commerce has urged citizens to refrain from panic buying or hoarding fuel beyond their immediate needs. This appeal is a crucial safety measure, as storing excessive amounts of fuel can pose significant fire hazards, endangering property and lives. Furthermore, the Minister of Mines and Energy, Mr. Keo Rattanak, reiterated the government’s commitment to ensuring a stable supply. In a video released on the Ministry of Mines’ Facebook page on the evening of March 8th, Mr. Rattanak confirmed that Cambodia maintains a robust fuel reserve sufficient for 21 days. He also assured the public that fuel imports continue daily to replenish stocks, although recently imported fuel inevitably comes at a higher cost compared to older reserves.
In a demonstration of corporate responsibility, Mr. Tea Siam, owner of Peace Petroleum, swiftly announced via social media that all Peace brand fuel stations would strictly adhere to the government-mandated prices. This commitment aims to ensure that consumers receive transparent and fair service. Mr. Siam further warned that any Peace station owners found in violation of the price caps would face internal measures, alongside close cooperation with relevant ministries for stringent legal enforcement.
Between March 6th and 8th, the CCF conducted extensive inspections, surveying over 500 fuel stations and depots across various provinces and the capital. These inspections focused on verifying retail prices, fuel quality, and quantity. Disturbingly, more than ten instances of overcharging, exceeding the Ministry of Commerce’s guidelines, were identified. Consequently, several non-compliant fuel stations and depots were temporarily shut down, including two locations in Battambang province, two in Siem Reap, one in Kampong Cham, and one depot in Kampong Thom. The Director-General of the CCF encourages all citizens to play an active role in market oversight. The public is urged to report any irregularities concerning fuel quantity, quality, or pricing that exceeds the Ministry of Commerce’s official announcements. Reports can be made via the Ministry of Commerce’s public hotline 1266, or by contacting 023 231 856, 012 925 317, 012 875 989, or 012 824 948.
