PHNOM PENH, March 20 — The Cambodian government has reduced import duties and value-added tax (VAT) for gasoline and diesel to zero in an attempt to stabilise retail oil prices in the kingdom amid the escalation of the West Asia conflict.
Xinhua reported that the Commerce Ministry said the government also reduced the special excise tax on gasoline to 15.71 US cents per (RM0.59) litre and on diesel to zero.
In an announcement today, it added that the government has decided to reduce the retail fuel prices as the international fuel prices continue to rise.
A litre of regular gasoline costs 5,400 riels (about RM5.34) today, down 1.8 per cent from the last three days, while diesel costs 6,700 riels per litre (RM6.63), up 2.29 per cent.
The ministry noted that since the outbreak of the West Asia conflict, regular gasoline prices in Cambodia have risen by 40 per cent, while diesel prices have increased by 74 per cent.
On Saturday (March 14), it said that over 400 of the kingdom's 6,300 fuel depots and gas stations had halted operations due to delays in new fuel stock.
The Southeast Asian country entirely relies on imported diesel and petroleum.
