Cambodian gasoline prices surge to all-time high
Wednesday, 7 November 2007
PHNOM PENH, Nov 6 (AFP): Cambodian gasoline costs are at an all-time high, officials said today, spurred on by a 10 per cent surge in pump prices over the weekend.
Premium gasoline has topped out at over 1.11 dollars a litre at some service stations in the capital Phnom Penh, and experts warn that the spiraling cost of oil on world markets means this impoverished country is not likely to see a drop in pump prices any time soon.
Oil was trading at a record 96.24 dollars a barrel late last week and continues to push towards the 100-dollar mark.
This impacts heavily on countries like Cambodia, which imports 100 per cent of their petroleum products, said Men Den of Cambodian National Petroleum Authority.
Premium gasoline has topped out at over 1.11 dollars a litre at some service stations in the capital Phnom Penh, and experts warn that the spiraling cost of oil on world markets means this impoverished country is not likely to see a drop in pump prices any time soon.
Oil was trading at a record 96.24 dollars a barrel late last week and continues to push towards the 100-dollar mark.
This impacts heavily on countries like Cambodia, which imports 100 per cent of their petroleum products, said Men Den of Cambodian National Petroleum Authority.