PHNOM PENH, March 31 (Xinhua) -- Mon Yort, a ride-hailing tuk-tuk driver in Cambodia, has experienced a significant drop in his daily income due to rising global fuel prices caused by the conflict in the Middle East.
The 43-year-old man said that previously he earned about 25 U.S. dollars a day and spent up to 3.75 dollars on Liquefied Petroleum Gas (LPG), but now his daily revenue is around 20 dollars, and he spends up to 7.5 dollars on LPG.
"During this unfavorable economic situation caused by rising global oil prices, customers have also cut back on their non-essential travel," Mon Yort told Xinhua on Tuesday while queuing his PassApp for filling up LPG at a gas station in Phnom Penh.
"This price hike has strongly affected our livelihoods because our one-day income is for one-day expenses," he said. "We have to fill up our gas tanks and buy food, so we do not have any money left."
Mon Yort said that despite rising LPG prices, it's hard to ask for an increased fare from customers.
When we asked them to increase fares a little bit, they complained that they had difficulty making money, too, he said.
Eng Chandorn, another ride-hailing tuk-tuk driver, said he has also seen a drop in his daily revenue from 20 dollars a day to 15 dollars due to the LPG price hike.
"It has severely affected us as our income has declined, but gas price has skyrocketed," he told Xinhua.
The 50-year-old driver said that before the Middle East conflict, he spent only 3.5 dollars for LPG a day, but now he spends up to 6 dollars for the same amount of LPG.
A liter of LPG costs 3,400 riels (0.85 U.S. dollars), regular gasoline 5,000 riels (1.25 dollars), and diesel 7,200 riels (1.8 dollars) on Tuesday, the Ministry of Commerce said.
Since the onset of the Middle East conflict, the prices of LPG, regular gasoline, and diesel in Cambodia rose by 70 percent, 30 percent, and 87 percent, respectively, the ministry added.
Thong Mengdavid, deputy director of the China-ASEAN Studies Center at the Cambodia University of Technology and Science, said fuel price hikes have increased transportation and production costs, driving inflation and reducing purchasing power, especially on food and agricultural products, which ultimately slows economic activity and increases food prices.
"The most affected are low- and middle-income households, informal workers, transport service providers, and small and medium enterprises, as they face higher living and operating costs with limited financial buffers," he told Xinhua.
"To address this global energy crisis, the government should prioritize targeted support for vulnerable groups, strengthen price monitoring, and accelerate long-term reforms such as energy diversification and improved public transport to enhance economic resilience," Mengdavid added.
In an effort to mitigate the impact of rising fuel prices, on March 20, the government reduced import duties and taxes on fuel products.
Also on March 28, the government has decided to reduce import duties on electric vehicles (EVs), passenger plug-in hybrid electric vehicles (PHEVs), electric stoves, and solar-powered devices. ■
