It is sad that for a country with people earning as little as $US 1 a day should have to pay more than a dollar per litre for the petrol. In other countries where their population earn about twenty times more have to pay less than one dollar.
It is regrettable to hear Sok Kong, the oil speculator, blamed world crude oil prices for the increase in petrol prices in Cambodia. If world prices are the factors that are pushing the oil prices upward then why do people in countries around Cambodia such as Thialand, Vietnam and Laos pay much less? We know that petrol campanies charge exorbitant prices because there is no competition. On the contrary those oil companies colluded with each other to charge the unfortunate motorists extortionate prices. We also know that most of the Cambodian oil companies are owned by Hun Sen's family and his cronies. Tela is major-owned by Hun Sen's family. Sokimex is owned by Sok Kong who is very, very close to Hun Sen. Their interests are at stake should there be any real price change.
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Gasoline, diesel prices soar by 10% in Cambodia
http://www.chinaview.cn/index.htm 2007-11-06 10:49:47
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PHNOM PENH, Nov. 6 (Xinhua) -- Gasoline and diesel prices have surged by around 10 percent at the pump in Cambodia, local media reported Tuesday.
Prices at Phnom Penh's Chevron (former Caltex), Sokimex, Total and Tela stations jumped to 4,450 riel (about 1.1 U.S. dollars) Monday from 4,050 riel (about one dollars) per liter for "premium" gasoline, the Cambodia Daily newspaper said.
Diesel prices also increased from 3,300 riel (about 0.81 dollars) to 3,650 (about 0.9 dollars) riel per liter, it added.
Cambodia would not join the ranks of other nations using subsidies to stabilize petroleum prices, Men Den, director of the Petroleum Exploration and Production Division for the Cambodian National Petroleum Authority, was quoted by the newspaper as saying.
When oil prices go up they tend to stay up, Men Den said, adding that Cambodia's as yet untapped offshore oil reserves are the best chance for bringing down costs.
Meanwhile, analysts cited strong global demand, geopolitical concerns and Cambodian taxes for the high prices that consumers currently face, the newspaper said.
Sok Kong, president of Cambodian petroleum company Sokimex, blamed the price increase on the world market, which has pushed crude oil prices to nearly 100 dollars per barrel.
He added that there seem to be no sign of the situation abating.
It is regrettable to hear Sok Kong, the oil speculator, blamed world crude oil prices for the increase in petrol prices in Cambodia. If world prices are the factors that are pushing the oil prices upward then why do people in countries around Cambodia such as Thialand, Vietnam and Laos pay much less? We know that petrol campanies charge exorbitant prices because there is no competition. On the contrary those oil companies colluded with each other to charge the unfortunate motorists extortionate prices. We also know that most of the Cambodian oil companies are owned by Hun Sen's family and his cronies. Tela is major-owned by Hun Sen's family. Sokimex is owned by Sok Kong who is very, very close to Hun Sen. Their interests are at stake should there be any real price change.
-----------------------------------------------------------
Gasoline, diesel prices soar by 10% in Cambodia
http://www.chinaview.cn/index.htm 2007-11-06 10:49:47
PHNOM PENH, Nov. 6 (Xinhua) -- Gasoline and diesel prices have surged by around 10 percent at the pump in Cambodia, local media reported Tuesday.
Prices at Phnom Penh's Chevron (former Caltex), Sokimex, Total and Tela stations jumped to 4,450 riel (about 1.1 U.S. dollars) Monday from 4,050 riel (about one dollars) per liter for "premium" gasoline, the Cambodia Daily newspaper said.
Diesel prices also increased from 3,300 riel (about 0.81 dollars) to 3,650 (about 0.9 dollars) riel per liter, it added.
Cambodia would not join the ranks of other nations using subsidies to stabilize petroleum prices, Men Den, director of the Petroleum Exploration and Production Division for the Cambodian National Petroleum Authority, was quoted by the newspaper as saying.
When oil prices go up they tend to stay up, Men Den said, adding that Cambodia's as yet untapped offshore oil reserves are the best chance for bringing down costs.
Meanwhile, analysts cited strong global demand, geopolitical concerns and Cambodian taxes for the high prices that consumers currently face, the newspaper said.
Sok Kong, president of Cambodian petroleum company Sokimex, blamed the price increase on the world market, which has pushed crude oil prices to nearly 100 dollars per barrel.
He added that there seem to be no sign of the situation abating.
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