Cambodia's oil products import up 25 pct in H1-Xinhua

Cambodia's oil products import up 25 pct in H1

Source: Xinhua

Editor: huaxia

2022-08-02 16:04:15

PHNOM PENH, Aug. 2 (Xinhua) -- Cambodia imported oil products worth 1.91 billion U.S. dollars in the first half of 2022, up 25 percent from 1.52 billion dollars over the same period last year, according to a report from the General Department of Customs and Excise.

Economy and Finance Ministry spokesman Meas Soksensan said Tuesday that international fuel prices have soared since the Russia-Ukraine conflict broke out in February.

"We are not an oil producer but an importer, so oil prices fluctuate according to the international market," he said at a press conference in Phnom Penh.

The Ministry of Commerce's oil price list showed that regular petrol costs 4,750 riels (1.16 U.S. dollars) per liter on Tuesday, while diesel costs 5,150 riels (1.26 dollars).

The figures recorded that the prices of regular petrol and diesel rose 5.5 percent and 21 percent, respectively, compared to the prices in early February.

Currently, Cambodia relies solely on oil imports as its seabed's oil and gas reserves have not been tapped yet.

Minister of Mines and Energy Suy Sem said last week that the demand for oil products in Cambodia is projected to rise to 4.8 million tons in 2030, up from 2.8 million tons in 2020.

"Further investments in this sector are needed in order to respond to this growing demand," he said.