Oil prices in Cambodia decline nearly 10 pct in recent weeks
Oil prices in Cambodia decline nearly 10 pct in recent weeks
Cambodia's oil prices have declined by 9.5 percent in the last four weeks thanks to the drop in the international markets, said an importer on Wednesday.
According to a daily report of the Commerce Ministry, a liter of premium gasoline goes for 5,200 riel (about 1.27 U.S. dollars) on Wednesday, down 9.5 percent from 5,750 riel (about 1.41 U.S. dollars) fours weeks ago.
Bin May Mialia, the commercial manager for Thai-based PTT Oil Company, said that oil prices in the country had been gradually slashed since mid-May in response to the international decline in oil prices. "As Cambodia imports 100 percent of oil, the prices are fluctuated in accordance to the international markets,"he said.
On Wednesday, a barrel of crude oil costs 84 U.S. dollars in the international markets, down 11.5 percent from 95 U.S. dollars a month ago.
Cambodia has purchased petroleum from Vietnam, Singapore and Thailand. Last year, this Southeast Asian nation spent about 1.38 billion U.S. dollars in purchasing some 1.46 million tons of petroleum, according to a report of the Commerce Ministry.
During the first four months of this year, the country spent 619 million U.S. dollars in purchasing 612,455 tons of petroleum, the report added.
xinhua
