If the old fuel stock runs out, the new fuel price announced by the Ministry of Commerce and the Ministry of Mines, Energy and Energy for June 21 may increase because the price of crude oil on the world market has been rising significantly due to the Israeli-Iranian war.
Currently, diesel in Cambodia costs 3,550 riel per liter, regular gasoline is 3,750 riel, and kerosene is 4,400 riel. The fuel price will expire on June 20.
An analyst said that based on the forecast of crude oil prices on the world market, which rose after Israel and Iran launched an air war, the price of refined oil imported into Cambodia could reach about 4,000 riels per liter.
The analyst said that before the war between Israel and and Iran, the price of crude oil on the international market was only in the range of $65 to $68 per barrel, but now the price of crude oil has risen to more than $70 per barrel.
According to the AP report, as of June 18, the price of crude oil in the international market had reached $76.70 per barrel, the highest price since February.
The war between Israel and Iran has spread into the 7th day, and now both sides have attacked each other’s airspace aggressively, while damage and loss of life are on both sides. But the cost of the damage has not yet been calculated. So far, Cambodia has continued to rely on fuel imports.
According to a report by the Ministry of Commerce, in the past five months, Cambodia has imported fuel, including gas, worth a total of $1.045 million, down 13 percent compared to the same five months last year, which had a total value of approximately $1.202 million.
The same source added that Cambodia has imported diesel fuel worth a total of $571 million, down 11 percent, gasoline worth $335 million, down 21 percent, and gas worth $139 million, up 1.6 percent. In general, Cambodia may need to import a total of approximately 2.8 million tons of oil and gas per year.
