PHNOM PENH, March 21 — Cambodia announced a slew of tax reliefs on petrol and diesel to reduce the public’s financial burden amid rising fuel costs in West Asia.
In a Facebook post today, Prime Minister Hun Manet said the move is to support people’s livelihoods amid rising energy costs.
State media Agency Kampuchea Presse (AKP), citing the post, reported that the government will continue to subsidise fuel prices by US$0.065 (RM0.26 sen) per litre.
There will be a reduction of US$0.01 (RM0.039 sen) per litre when gasoline prices exceed US$90 (RM354.55) per barrel in the global market and diesel prices surpass US$100 (RM393.95) per barrel.
These measures are to counter rising fuel prices, which could spike inflation, as the global energy market has been severely volatile since February 28 amid the raging war, with crude oil prices hovering above the US$100 mark.
Manet announced further measures, including cutting the additional tax on petrol and diesel to zero and reducing the special tax on diesel from four per cent to zero per cent.
AKP also reported that the additional tax on both petrol and diesel would be lowered from 10 per cent to four per cent, with the government absorbing the remaining six per cent.
Meanwhile, under the new price structure effective March 20, one litre of regular petrol will cost 5,400 riel (RM5.32), while one litre of diesel will cost 6,700 riel (RM6.58).
Cambodia has been grappling with fluctuating fuel prices. Prices of petrol had increased by about 40 per cent, while diesel prices shot up by 74 per cent since the war started.
